Tag: BlockFi

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

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Join our Exclusive Crypto and Stock Market Content on Patreon: Some guy saying it’s weird of me to buy low and sell high: My prediction of the bitcoin 2021 peak (before it happened) and 2022 crypto crash warning (before it happened): Get up to 12 Free Stocks valued between $34 and $30,600 when you open and fund a new Stock Account: The best way to support our channel is to share this video on your social media to spread awareness. We appreciate…

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…

SEC Could Use BlockFi as Object Lesson for Clear Crypto Regulation, Says Ex-SEC Official

“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 be a little bit more to the front of the mind of the SEC than the $30 million that they’re owed.” Source

Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated

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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 court in the first day hearing on Nov. 29, including the redaction of personal details of its 50 largest creditors, and the appointment of Kroll Restructuring Administration as its claims and noticing agent — the same firm chosen by…