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The stay has been modified to allow FTX debtors to make "arguments, defenses, counterclaims, setoffs, or otherwise ... with respect to the BlockFi claims in the FTX bankruptcy proceeding," according to a Nov. 13 court order by U.S. bankruptcy judge Michael Kaplan. Original Source
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An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology.The legitimacy of Luxor’s hashrate-backed product was highlighted in an
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Crypto lender BlockFi announced its emergence from insolvency this week, just a few days after FTX announced that it successfully reclaimed approximately $7 billion in assets. FTX debtors, comprising FTX and affiliates, estimate that $8.7 billion has been misappropriated from customers. BlockFi has lent FTX more than $650 million, making
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BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders. Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked
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BlockFi has announced its emergence from bankruptcy and is initiating plans to repay creditors, marking a significant turnaround after last year’s challenging halt of withdrawals following the FTX exchange collapse. The Oct. 24 announcement by BlockFi, a crypto lending firm, about its emergence from bankruptcy and the commencement of creditor repayments
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Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that Blockfi Interest Account (BIA) and Loan customers will be able to
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The beleaguered crypto lender was among a rash of digital asset companies that froze their customers’ accounts and eventually collapsed after FTX blew up last fall. The restructuring plan, which more than 90% of creditors approved, will enable BlockFi to recover the assets it lost to crypto exchange FTX and
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The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan.Bankruptcy Judge Michael A. Kaplan approved BlockFi's third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BlockFi, the now-defunct crypto lending company, has filed a court application to move “trade-only” assets from users’ accounts to stablecoins. This move follows the company’s ongoing efforts initiated in August to return users’ funds after previously closing
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Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August. On Aug. 29,
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