Morgan Creek Digital Is Attempting to Raise $250 Million from Investors to Purchase a Majority Stake in BlockFi

According to a leaked investor call from Tuesday reveals, cryptocurrency investment firm Morgan Creek Digital is attempting to raise $250 million from investors to purchase a majority stake in BlockFi. Morgan Creek’s plan to rapidly assemble an equity offer was hatched in response to FTX’s Tuesday morning announcement that it would extend a $250 million credit line to BlockFi. Morgan Creek Digital declined to comment. A person with knowledge of the effort said there are multiple venture capital funds that are exploring ways to provide equity financing to BlockFi as the lender struggles to stay afloat.