Tag: BlockFi
BlockFi CEO ignored risks from FTX and Alameda exposure, contributing to collapse: court filing
Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team ove [...]
3AC Liquidator May Try to Claw Back About $1.2B From Digital Currency Group, BlockFi
A confidential July 7 report from Teneo, the liquidator, that CoinDesk reviewed referred to more than $1 billion of “prospective claims” against DCG a [...]
BlockFi Bankruptcy Plans Opposed by FTX, Three Arrows, and SEC
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 allegatio [...]
Maple Finance announces direct lending to fill the void left by BlockFi, Celsius
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 develo [...]
‘End the Extortion:’ BlockFi Creditors File to Liquidate Estate
“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 [...]
U.S. SEC to Forego $30M BlockFi Fine to Maximize and Speed Up Investor Repayment
The regulator asserted its claims should be counted as part of "general unsecured claims" in the ongoing Chapter 11 bankruptcy proceedings, but agreed [...]
BlockFi Ordered by U.S. Bankruptcy Court to Withdraw Unapproved Reorganization Plan Shared ‘Prematurely’
The creditors and other parties do not support the reorganization plan, the corrective letter said. The Official Committee of Unsecured Creditors "bel [...]
BlockFi used customer money to buy $30M insurance, creditors claim
Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restru [...]
BlockFi Claims Against FTX, Alameda ‘Largest Driver’ of Client Recoveries, Firm Says
Last week, New Jersey Bankruptcy Judge Michael Kaplan ruled BlockFi custodial wallet users can be returned nearly $300 million in funds owed. The liqu [...]
BlockFi users to get back $297M from Wallet accounts: Report
A United States judge has granted permission to bankrupt crypto lender BlockFi to return $297 million to customers with deposits held in its Wallet pr [...]
Crypto Lender BlockFi Customers Can Be Repaid $300M Held in Custodial Accounts, Judge Says
“The court finds that all digital assets held by the debtors in custodial omnibus wallets are indeed client property, and not property of the bankrupt [...]
Crypto lender BlockFi is granted extra time to file Chapter 11 exit plan
BlockFi, a lender of digital assets, was given additional time to submit a bankruptcy exit plan by a New Jersey bankruptcy judge in the United States [...]
Circle and BlockFi questioned on banking with SVB by Warren and AOC
Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigatin [...]
Sen. Warren, Rep. AOC Ask Circle, BlockFi Why They Banked at Silicon Valley Bank
They have also been asked to provide information about the alleged “coddling” of any of their executives or board members by SVB, including details ab [...]
BlockFi to provide over $100K in refunds to California clients
Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading [...]