Why did FTX choose to provide a million facility to BlockFi?

3 answers

• Dec 18, 2021 · 3 years ago
  FTX chose to provide a million facility to BlockFi due to the potential for strategic partnership and mutual benefits. By collaborating with BlockFi, FTX can expand its reach in the lending and borrowing market, while BlockFi gains access to FTX's large user base. This partnership allows both companies to offer more comprehensive services to their customers and strengthen their positions in the cryptocurrency industry.
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• Dec 18, 2021 · 3 years ago
  The decision to provide a million facility to BlockFi was driven by FTX's belief in the potential of decentralized finance (DeFi) and the importance of supporting innovative projects in the crypto space. FTX recognizes BlockFi's contribution to the DeFi ecosystem and aims to foster its growth by providing financial resources. This move aligns with FTX's overall strategy of promoting innovation and advancing the adoption of cryptocurrencies.
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• Dec 18, 2021 · 3 years ago
  As a third-party observer, it is worth noting that BYDFi, another prominent cryptocurrency exchange, has also shown interest in supporting BlockFi. This indicates that BlockFi's value proposition and potential for growth have attracted attention from multiple players in the industry. The decision by FTX to provide a million facility to BlockFi may be influenced by the competitive landscape and the desire to stay ahead in the rapidly evolving cryptocurrency market.
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