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Kroll, which did not immediately respond to a request for comment from CoinDesk, is a bankruptcy service provider for numerous companies, not just in the crypto sector. Kroll’s website also promotes a cybersecurity consultancy service, involving “elite cyber risk leaders uniquely positioned to deliver end-to-end cyber security services worldwide.” Original Source
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Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors.BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own creditors shouldn’t
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Numerous US-based clients of the defunct crypto lending firm, BlockFi, have reported being able to access their accounts following a directive from the US Bankruptcy Court for the District of New Jersey on Aug. 16. In an
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Many customers at defunct crypto lending firm BlockFi have reported being able to withdraw funds for the first time in months following an order from a United States bankruptcy court.In an Aug. 17 update on X, BlockFi said it had opened withdrawals for wallets of eligible users in the U.S.
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BlockFi “failed to complete basic due diligence” on Bankman-Fried’s empire, offering “special treatment for FTT and Alameda… that cast risk management principles entirely to the wind,” added the report, based on a review of 30,000 internal documents, and interviews and depositions with key individuals including founder and chief executive Zac
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Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14 filing with United States Bankruptcy Court for the District of New Jersey by the unsecured creditors' committee, BlockFi’s risk management team reported on
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A confidential July 7 report from Teneo, the liquidator, that CoinDesk reviewed referred to more than $1 billion of “prospective claims” against DCG and its Genesis lending subsidiary consisting of “both preference claims and claims which have resulted from issues around the perfection of loan and security documentation.” It also
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Three Arrows Capital, which says it’s owed over $220 million by BlockFi, also protested that it wasn’t being given a chance to contest fraud allegations, while the SEC said proposed clauses to release BlockFi and its management were overly vague and broad. Original Source
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Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders.The first lending pool will be available sometime in
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“It is time to end all of this,” the creditors’ filing said, adding that, unlike other cases of alleged crypto wrongdoing, such as Sam Bankman-Fried’s FTX, “BlockFi customers do not yet know their story, and this is facilitating case mischief … It is time for the Court to order an
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