Will FTX's deal with BlockFi be announced by July 31?
Tech
PolymarketClosedCheck availabilityNo KYCVerified resolution dataWell calibratedThis market resolved: Yes
Limited resolution evidence
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Probability Timeline
Yes100%
No0%
YesWon
NoLost
Rules
On June 21, 2022, BlockFi International Ltd, a global crypto financial services company, announced that the company signed a preliminary term sheet with FTX to secure a $250 million revolving line of credit providing BlockFi with access to further capital.
- Zac Prince, the CEO of BlockFi, confirmed the news in a Twitter thread, claiming the new flow of capital would bolster the firm’s balance sheet and strengthen the platform.
- However, the term sheet is contingent upon the execution of definitive documents, which is expected to be completed in the coming days.
- This market is on whether the credit deal between FTX and BlockFi will be announced by July 31, 2022.
- This market will resolve to "Yes" if, within this market's timeframe, FTX (FTX Trading Ltd or FTX Digital Markets Ltd) or any of its subsidiaries or BlockFi Lending LLC or any of its subsidiaries announce that the two parties have reached an agreement in which FTX provides to BlockFi a line of credit greater than or equal to $100 million, in accordance with the aforementioned preliminary term sheet.
- Otherwise, this market will resolve to “No”.
