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Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

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cnbc.com

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage.

FTX, Bankman-Fried's crypto exchange, agreed Tuesday to provide BlockFi with a $250 million revolving credit facility. Bankman-Fried said the financing would help BlockFi «navigate the market from a position of strength.» «We take our duty seriously to protect the digital asset ecosystem and its customers,» he tweeted.

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