- BlockFi has introduced that it’ll disclose its belongings, liabilities, and funds obtained previous to its chapter submitting in November 2022.
- Final yr, FTX, Celsius Community, and Voyager Digital declared Chapter 11 chapter.
On 9 January, BlockFi, a cryptocurrency lending firm, introduced that it could disclose details about its belongings, liabilities, and funds obtained, previous to its chapter submitting in November 2022.
BlockFi expects to file each its Schedules of Belongings and Liabilities and its Assertion of Monetary Affairs with the Courtroom on January 11, 2023.
— BlockFi (@BlockFi) January 9, 2023
BlockFi filed a presentation for its stakeholders outlining future court docket filings and a abstract of the chapter proceedings. Based on the lending agency, shortly after its first chapter listening to in November 2022, the corporate contacted 106 potential consumers and would search court docket approval for the bidding course of on 30 January.
The corporate additionally maintained that members of the corporate had not withdrawn any cryptocurrency from the platform since 14 October 2022, nor had they made any withdrawals over 0.2 BTC since 17 August 2022. Following a $400 million revolving credit score facility from FTX US in July 2022, the corporate elevated base salaries and made retention funds to sure workers.
BlockFi omnibus listening to on 17 January
BlockFi additional meant to file its belongings and liabilities, in addition to a press release of economic affairs, on 11 January. The announcement got here after the US Division of Justice (DoJ) notified the court docket overseeing the chapter case that it had seized over 55 million shares of Robinhood, value round $450 million, on the time of publication, as a part of the felony case in opposition to crypto change FTX and its executives. Given sure monetary ties to FTX, BlockFi was one get together claiming rights to the shares.
Final yr, FTX, Celsius Community, and Voyager Digital declared Chapter 11 chapter, with many customers reporting losses value hundreds of thousands of {dollars}. The subsequent public listening to in FTX’s chapter case was on 11 January, whereas BlockFi has an omnibus listening to on 17 January.
The corporate said:
“BlockFi appears to be like ahead to persevering with its open dialogue with the UCC, U.S. Trustee, and all stakeholders in its chapter 11 circumstances. Extra info associated to the Claims Course of and the submitting of Proof of Claims will probably be despatched to shoppers on the applicable time. Please notice that, right now, no deadlines have been set.”
