Tag: BlockFi

BlockFi plans to file assets and liabilities for bankruptcy case on Jan. 11

Crypto lending firm BlockFi has announced it will disclose information on its assets and liabilities as well as payments received prior to its bankruptcy filing in November. In a Jan. 9 Twitter thread, BlockFi said it had filed a presentation for its stakeholders detailing plans for future court filings and a rundown of the bankruptcy proceedings. According to the lending firm, the company reached out to 106 potential buyers shortly after its first bankruptcy hearing in November and will ask for the court’s approval regarding the bidding process on Jan.…

BlockFi Management Hasn’t Withdrawn Any Crypto Since October, Lawyer Tells Court

Sussberg said BlockFi plans to file its assets and liabilities, along with a statement of financial affairs on Wednesday, which BlockFi later confirmed on Twitter. Shortly after the first hearing in November, the company kicked off a sale process and has reached out to “106 domestic and international potential buyers for some or all of the business,” Sussberg’s presentation said. The company plans to ask for court approval of bidding procedures at a Jan. 30 hearing. Source

BlockFi Management Hasn’t Withdrawn any Crypto Since October, Lawyers Tell Court

Sussberg said the company plans to file its assets and liabilities, along with a statement of financial affairs (SOFA) on Jan. 11, which the BlockFi later confirmed via its Twitter account. Shortly after the first hearing in November last year, the company also kicked off a sale process and has reached out to “106 domestic and international potential buyers for some or all of the business,” Sussberg’s presentation said. The company also plans to ask for court approval of bidding procedures at a Jan. 30 hearing. Original Source BlockFiCourtCryptoHasntLawyersManagementOctoberWithdrawn CryptoX…

Investors seek to sell FTX, Celsius, BlockFi, Voyager claims

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Instead of waiting for a lengthy bankruptcy process, some investors who have claims on FTX, Celsius Network, BlockFi and Voyager Digital are looking to pass on their claims to others.  Data from crypto claims trading startup Xclaim shows that there are at least hundreds of investors who have been affected by the recent collapses of crypto platforms FTX, Celsius, BlockFi and Voyager who do not want to wait for a lengthy bankruptcy process that doesn’t guarantee that they will even be able to get anything. The investors have listed their…

Robinhood shares claimed by BlockFi and FTX may move to a neutral broker

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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 the more than $600 million that BlockFi loaned to Alameda Research. The 56 million Robinhood Markets shares, which are currently frozen, are worth around $450 million. They are owned by Bankman-Fried’s holding company Emergent Fidelity Technologies, which was formed…

The Crypto Market and Altcoins Will Skyrocket After The Bitcoin Halving

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FTX asks bankruptcy judge to stop BlockFi from claiming Robinhood shares

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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 turn over 56 million Robinhood Markets shares. The stocks were allegedly put up as collateral for BlockFi’s loans to crypto trading firm Alameda Research. Both FTX and Alameda filed for bankruptcy before settling the BlockFi loans. However, FTX argued…

BlockFi Seeks to Resume Withdrawals for Selected Customers

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 accounts. The bankrupt company filed the motion on the 19th of December with the US Bankruptcy Court in the District of New Jersey. If approved, BlockFi users will be able to withdraw the crypto that is locked up in…

BlockFi files motion to return frozen crypto to wallet users

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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 asked the court for authority to honor client withdrawals from wallet accounts as of the platform’s pause on Nov. 10. The court documents also request permission to update the user interface to properly reflect transactions as of the platform’s…