The approval is seen as a milestone moment for BlockFi’s 100,000-plus creditors, who have been long awaiting repayment. 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…
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Digital asset exchange Coinbase will be offering cryptocurrency loans to institutions in the United States. With the new service, the leading U.S. crypto trading platform seeks to fill the market gap opened by the collapse of companies like Celsius, Genesis, and Blockfi. Crypto Exchange Coinbase Starts Offering Crypto Loans to Institutions Cryptocurrency exchange Coinbase has…
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Bankrupt crypto lender BlockFi is trying to block efforts from FTX and Three Arrows Capital (3AC) to recover billions of dollars transacted between the firms before they collapsed last year. In a Monday court filing, BlockFi accused FTX and Three Arrows Capital of victimizing the company and claimed that they are not entitled to the $5 billion they are seeking to recover. ……
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BlockFi argues its creditors, not FTX’s, are the “ultimate victims” of FTX’s alleged fraud. 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…
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The lending platform halted client withdrawals amid filing for bankruptcy in November 2022, but later petitioned the court for authorization to return user funds. 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…
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According to a recently unsealed report made in Friday’s court filing, BlockFi Inc. executives ignored repeated warnings from their risk management team regarding significant loans to Sam Bankman-Fried’s Alameda Research, collateralized with digital tokens from FTX…. Read More: Report: BlockFi’s Risky Investment in FTX and Alameda Despite Knowledge of Infamous Balance Sheet Read more »Sign…
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Crypto lending firm BlockFi had roughly $1.2 billion in assets tied to FTX and Alameda Research when the firm filed for bankruptcy in November 2022. 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…
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FTX, Three Arrows Capital (3AC), and the Securities and Exchange Commission (SEC) have united against BlockFi’s bankruptcy plans, revealing a billion-dollar dispute that has brought them together. In a legal filing submitted by FTX on June 7, it has been argued that BlockFi’s proposed plans exploit bankruptcy regulations. … Read More: FTX, Three Arrows, and SEC…
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The lending platform’s team will begin offering loans directly to some borrowers instead of relying solely on pool delegates to provide capital. 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…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: JPMorgan Deploys JPM Coin for Euro-Denominated Payments, Casa Rolls out Support for Ethereum Storage, US SEC Grants BlockFi Temporary Relief From Settling a $30M Penalty, Gemini Staking Pro…
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