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The highly disputed Robinhood shares claimed by both BlockFi and FTX might be transferred to a neutral broker or an escrow account while the courts determine the rightful owner.Digital asset lender BlockFi recently sued former FTX CEO Sam Bankman-Fried to claim the shares that were supposedly pledged as collateral for
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Embattled crypto exchange FTX asked for the assistance of a United States bankruptcy judge to prevent crypto lending firm BlockFi from claiming around $450 million worth of Robinhood shares purchased by its former CEO Sam Bankman-Fried. On Nov. 28, BlockFi filed a lawsuit demanding Emergent Fidelity Technologies, Bankman-Fried's holding company, to
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BlockFi intends to delete all “attempted” withdrawals after the platform pause from the user interface to sort out any confusion.Crypto lender BlockFi, which filed for bankruptcy on the 28th of November, has filed a motion with a US court to resume withdrawals for customers with crypto locked in its wallet
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The latest price moves in bitcoin (BTC) and crypto markets in context for Dec. 20, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from the United States Bankruptcy Court to allow its users to withdraw digital assets currently locked up in BlockFi Wallets. In a motion filed on Dec .19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender
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“The SEC is going to be a lot more concerned not with the money from the settlement, but from what the BlockFi bankruptcy represents in terms of harm to investors, systematic risks, contagion, and what it shows about the risks to crypto world in general,” Fischer said. “That's going to
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A lawyer for BlockFi told the first day hearing of its bankruptcy proceedings that the crypto lender has $355 million stuck on FTX and that the collapsed exchange’s sister company Alameda Research has defaulted on a $680 million loan.BlockFi filed 15 motions on Nov. 28 which were approved by the
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Sasha Hodder, founder of Hodder Law Firm, discusses why the SEC may get paid before retail investors and the low probability that traders will ever get their money back. Source
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Like (so far) every other crypto company, BlockFi has filed for Chapter 11 bankruptcy protection, indicating it believes it can continue onwards after a restructuring process. Like other companies, BlockFi claims it faced “a severe liquidity crunch,” directly citing the collapse of the FTX crypto exchange as a main cause.
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BlockFi filed for bankruptcy Monday, after weeks of speculation about the company’s solvency after it paused withdrawals earlier in November. The lender had been relying on a $400 million line of credit from crypto exchange FTX, which itself filed for bankruptcy earlier this month after doubts emerged about its own
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