FTX and BlockFi bankruptcies spook Visa and Mastercard
The downfalls of major firms like FTX and BlockFi have led Visa and Mastercard to postpone a number of crypto-related products and services.
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The downfalls of major firms like FTX and BlockFi have led Visa and Mastercard to postpone a number of crypto-related products and services.
Read more (2 min) →Financials published by mistake showed that BlockFi has over $1.2B tied to FTX and Alameda — way more than the $1.02B previously claimed.
Alongside the $275 million from FTX, BlockFi is also owed $54 million from bitcoin miner Core Scientific — but it hasn't called in that debt.
An FTX bailout of $750 million will keep two crypto lenders solvent: $250 million for BlockFi and $500 million for Voyager.