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Cryptocurrency exchange FTX is in talks to buy a stake in the BlockFi landing platform. It is reported by the Wall Street Journal.

According to the publication, the parties have yet to reach a final agreement.

A BlockFi spokesperson told CoinDesk that the company was “not commenting on the rumours.”

“We are still discussing the terms of the agreement and are unable to share any additional information at this time. “We expect details of the terms of the agreement to be made public at a later date.”

In June, media reported that BlockFi was preparing to close a new funding round of $1 billion instead of the previously planned $5 billion, after which the company announced that a fifth of its staff had been laid off.

Amid the recent market turbulence, the crypto lending platform has liquidated at least some positions in hedge fund Three Arrows Capital, according to media reports.

On June 21, BlockFi signed a memorandum of understanding with FTX for a $250 million revolving line of credit. Analyst FatMan described the deal as a “deal with the devil.”

FTX Chairman Sam Bankman-Fried talked about the work being done to reduce negative events in the market due to Celsius and Three Arrows Capital issues, against the backdrop of adverse events in the industry.

On June 18, cryptocurrency broker Voyager Digital announced that Alameda Research has provided him with a 200 million USDC loan and a 15,000 BTC (~$300 million) revolving loan.

Recall that at the end of May, Bankman-Fried promised to spend “billions” on buying shares in other companies.

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