Top-tier crypto exchange platform FTX is reportedly holding discussions to complete the acquisition of a stake in BlockFi, following the firm’s issuance of a $250 million credit to the lending company.

Specifically, at the moment, FTX is in talks with BlockFi about the deal of the crypto exchange’s acquisition of a stake in the entity, but no equity agreement has been reached. 

The reported ongoing talks reportedly took place following BlockFi signing a term sheet with FTX to obtain a $250 million revolving credit facility on June 21st.

“BlockFi does not comment on market rumors. We are still negotiating the terms of the deal and cannot share more information at this time. We anticipate sharing more on the terms of the deal with the public at a later date.” A BlockFi representative reportedly revealed. 

FTX founder and current Head Sam Bankman-Fried (SBF) reportedly offered assistance to a variety of crypto initatives in recent weeks, as bearish actions throughout hte market lately forcing numerous firms to cut off staff. 

Trading company Alameda Research, under SBF’s management, reportedly disclosed details of its decision to loan 15,000 Bitcoin (BTC) to Voyager Digital on June 22nd, with a prirmary goal of covering financial damages from its exposure to Three Arrows Capital.

SBF reportedly shares a belief of Alameda and FTX being responsible for making a serious decision of stepping in, even at the premise of taking a loss at themselives, in a bid to stem contagion” amid the market downturn. 

“Even if we weren’t the ones who caused it, or weren’t involved in it. I think that’s what’s healthy for the ecosystem, and I want to do what can help it grow and thrive.”

Back in February, the US Securities and Exchange Commission reportedly put out an order for BlockFi to pay $50 million in settlement to the agency, along with $50 million to 32 state-level regulators over allegedly unregistered securities.