BlockFi revealed in a court hearing for its chapter 11 bankruptcy that Alameda owes it around $680M, while it also has $355M of funds frozen on FTX. But there are complications...
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.on Nov. 28 which were approved by the court in the first day hearing on Nov.
The message to clients said that BlockFi’s “singular focus” throughout the proceedings is “maximizing value for all clients and other stakeholders.”, BlockFi’s attorney, Joshua Sussberg, also added in the hearing that BlockFi plans to reopen withdrawals to customers at an unspecified time, and he was optimistic that the firm will be able to salvage the business after the restructuring.
While FTX and Alameda owe BlockFi around $1 billion, the state of financial obligations is made more complicated by theAccording to BlockFi, which cited the FTX collapse as the reason for its woes, it still owes $275 million to FTX US in a deal which it claims was agreed to by 89% of its shareholders.
The funds were provided to BlockFi after it was caught up in the contagion caused by the collapse of Terra’s stablecoin on May 10. BlockFi revealed that the loan is set to mature on Jun. 30 2027 and has an interest rate of 5%.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Crypto Lender BlockFi Files for Bankruptcy as FTX Fallout ContinuesJUST IN: BlockFi has filed for bankruptcy days after FTX, which had once extended a line of credit to the troubled crypto lender, filed for bankruptcy itself. nikhileshde reports
Les mer »
Crypto finance firm BlockFi files for bankruptcy following the fall of FTXCrypto’s cold winter claims another company.
Les mer »
BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troublesBlockFi files for bankruptcy just weeks after denying it had been significantly exposed to FTX.
Les mer »
BlockFi files for bankruptcy as FTX contagion grips crypto markets | CNN BusinessCrypto lender BlockFi filed for bankruptcy Monday, becoming the latest casualty of the financial contagion unleashed by the collapse of Sam Bankman-Fried's empire.
Les mer »
FTX Collapse Sparks Big Crypto Bankruptcy at BlockFiYet another crypto firm has filed for bankruptcy, this time the cryptocurrency lending business BlockFi.
Les mer »