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Crypto

FTX signs deal with Blockfi with option to acquire for $240 million

Crystal Xue
Crystal Xue

FTX US has agreed on a deal with crypto lender BlockFi that gives it the option to buy BlockFi for up to $240 million based on its performance. It’s uncertain what the low end of the deal amounts to, but this news comes after CNBC reported on the deal at $25 million. [1] Earlier in June, Blockfi signed a term sheet with FTX to secure a $250 million revolving line of credit to give BlockFi access to further capital. [2]

First Bitcoin ETF set to launch in Europe in July

Europe’s first spot Bitcoin exchange-traded fund (ETF) will arrive on the Euronext Amsterdam Exchange in July. This move will enable both European institutional and retail investors to invest in Bitcoin and crypto via the ETF at a 1.5% management fee, and is largely viewed as a step forward to improving cryptocurrency accessibility in Europe. [3]

Nubank rolls out crypto buying capabilities to 53.9 million customers  

Brazil's largest digital bank, Nubank, now offers its customers the ability to buy crypto, starting with Bitcoin and Ethereum, the largest cryptocurrencies by market valuation. Nubank users must update their app in order to acquire cryptocurrencies. Currently, the company charges a 0.02% fee on each buy and sell transaction and there is no function to withdraw cryptocurrencies to an external wallet. [4]

Polkadot reveals proposal for next generation of governance

In an effort to become more decentralized and censorship-resistant, Polkadot announced Gov2 – the next generation of governance for the DOT ecosystem. Gov2 aims to change the “practical means of day-to-day decision-making” and will transfer the responsibilities of the Council, an elected body of on-chain accounts, to token holders. After v2 is tested on Polkadot’s Canary Network, Kusama, the proposal will be active to vote on. [5]


Sources

  1. FTX US Deal With Troubled Crypto Lender Blockfi Floats Acquisition With 'Up To' $240M Purchase Price
  2. BlockFi Signs a Landmark Term Sheet with FTX to Provide a $250 Million Credit Facility
  3. Bitcoin Hits European Markets: How the Arrival of the First Spot Bitcoin ETF Can Boost Acceptance in the EU
  4. Nubank Now Allows 53 Million Brazilians to Buy Bitcoin
  5. Polkadot Unveils Governance V2 to Become More Decentralized and Censorship-Resistant

Please note that this article is for informational purposes only.Alpaca Crypto LLC does not recommend any specific cryptocurrencies

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Crypto

Crystal Xue

Crystal Xue is a Content Marketing Manager at Alpaca. She's passionate about financial literacy and creating content that helps investors navigate financial concepts and products.