Today @HardMoneyMag signed a term sheet with @FTX_Official to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and publication strength.
The proceeds of the credit facility are intended to be contractually subordinate to all client balances across all account types (memes, tweets & NFT collateral) and will be used as needed.
Throughout the market volatility of the last several weeks, I’m incredibly proud of how our team, publication, and risk management protocols have performed. Today’s landmark announcement reinforces Hard Money’s commitment to serving its readers and ensuring their memes are safeguarded.
This agreement also unlocks future collaboration and innovation between Hard Money & FTX as we could potentially become their janitors or maybe even customer service representatives. This is a significant step forward in our commitment to the strength and accessibility of crypto markets.
We look forward to sharing more details about future plans and initiatives to support the industry shortly!