FTX Buys BlockFi But Passes On Acquiring Celsius

To be among the very first to get these insights and other on-chain bitcoin market analysis directly to your inbox, subscribe now.FTX Buys The DipIn a massive announcement, it was reported that FTX is closing a deal to purchase BlockFi for a significant discount rate below their previous estimated $5 billion assessment at peak. Either method, FTX is in accumulation mode with the market near rock bottom and BlockFi down approximately 95%. Celsius will likely continue down the most probable course: personal bankruptcy, years of legal proceedings with clients and a possible purchaser getting distressed assets for cheap.Knowing FTX is both working to broaden their retail customer base and their FTX Earn product, acquisitions at these discounts make tactical sense.