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Crypto firm BlockFi signs $250 million revolving credit agreement with FTX

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BlockFi has signed a term sheet with digital asset exchange FTX for a $250 million revolving credit facility, the cryptocurrency firm's chief executive officer, Zac Prince, said in a tweet.The agreement will give BlockFi access to capital amid a rout in the digital currency market.

Last week, the company said it was reducing its headcount by about 20%, in addition to implementing other cost-cutting measures like reducing marketing spend and executive compensation.Aggressive rate hikes by the U.S.

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