Ex-CEO and founder of BlockFi Zac Prince has spoken out about the crypto lender’s insolvency and his future ambitions for the business and himself. Among the most noteworthy points brought up by Zac Prince was the update about the bankruptcy process’s effectiveness. His decision to be silent up to this
For the time being, Insolvent crypto lender BlockFi will be able to put off paying a $30 million penalty to the U.S. Securities and Exchange Commission. A $50 million settlement with the regulator was reached in February of 2022, and this is the remaining balance. Court documents filed on June
BlockFi, a digital asset ledger obtained court permission on May 11, 2023. The permission includes giving back $297 million to users who are non-interest-bearing accounts and not to those who moved their payments just a minute ago. BlockFi has undergone bankruptcy last year and the founder credentials of the user
A bankruptcy court in New Jersey ruled on Wednesday that the cryptocurrency platform BlockFi Inc. has until the middle of the next month to submit its Chapter 11 or reorganization plan. The court ruled that a little delay was acceptable to ensure the case’s smooth continuation. Representing BlockFi, attorney Joshua
Due to the FTX breakout, the crypto lending platform BlockFi filed for chapter 11 bankruptcy protection on November 28, 2022. On Monday, the company got approval from the United States Bankruptcy Court for the District of New Jersey to hold an auction for its crypto-mining assets. The company wants to
BlockFi, a cryptocurrency lender, has revealed its revenue figures. The filing describes the consequences of an FTX loan in June on 13 BlockFi executives. BlockFi’s equity interests were wiped out by a total of $800 million as a result of the loan. A statement of financial affairs released by the
BlockFi, an online platform and mobile app that allows users to purchase, sell, and trade cryptocurrency, has filed for bankruptcy and is attempting to keep their personal information private in a court filing on Tuesday. They have also claimed that they are concerned about identity theft or being a target
BlockFi, a defunct cryptocurrency lender, has filed a motion with the U.S. Bankruptcy Court seeking permission to release its customers’ cryptocurrency holdings in BlockFi Wallet Accounts. Withdrawals and transfers from BlockFi Interest Accounts will not be affected by this request, since they are currently suspended. The lender, which filed for
This year, the cryptocurrency markets went through a lot of turmoil, which affected the value of the tokens. Also, prominent crypto platforms faced several investigations by the Securities and Exchange Commission (SEC). As BlockFi is one of the biggest creditors to the US SEC. After a string of failures in
Over the past few weeks, a lot of catastrophic events have taken place in the global cryptocurrency market. Also, the crypto exchange FTX fallout alarmed several big-shot companies and many people in the cryptocurrency community, and the global crypto industry faced cold selling pressure. While the crypto lending platform BlockFi
