Sources: BlockFi is in the process of raising a down round at $1B valuation; BlockFi was last valued at $3B in March 2021 (Frank Chaparro/The Block)

Frank Chaparro / The Block:
Sources: BlockFi is in the process of raising a down round at $1B valuation; BlockFi was last valued at $3B in March 2021  —  Crypto financial services firm BlockFi is in the process of closing a down-round — in which funds will be raised at a lower valuation compared to previous raises …