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FTX signs a deal giving it the option to buy crypto lender BlockFi

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FTX has signed a deal giving it the option to buy crypto lending company BlockFi. The agreement gives FTX the ability to buy BlockFi at a maximum price of $240 million, the company announced Friday.

The deal price is based on certain performance targets. The company it did not give a minimum deal price. CNBC reported Thursday that a term sheet would be signed by the end of this week, with a source saying it could be as low as $25 million.

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