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BlockFi said it needed bonus payments to keep employees from fleeing the company. But creditors argue the plan is excessive when compared to other crypto bankruptcies.
Bankrupt BlockFi reportedly had over US$1.2 billion of assets tied to FTX.com and its sister trading firm Alameda Research
Failed cryptocurrency exchange FTX Trading Ltd. has asked a bankruptcy court to keep US$450 million worth of Robinhood shares frozen, as three parties battle for the true ownership of the assets.
BlockFi, an early victim of the financial contagion caused by the collapse of the FTX cryptocurrency exchange, said it wants to return assets locked up in its bankruptcy proceedings.
The cryptocurrency lender was hit by the earthquake set off across the industry by the collapse and bankruptcy of the FTX crypto exchange this month, and other companies are looking vulnerable.
Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.
BlockFi Inc. is preparing for possible bankruptcy filings after it acknowledged “significant exposure” to bankrupt cryptocurrency exchange FTX.com.
Three Arrows Capital files for bankruptcy in the US. Meanwhile, SBF and FTX agrees deal with option to buy for up to US$240 million.
The crypto lender signed definitive agreements with FTX US for a US$400 million revolving credit facility that will be subordinate to all client funds. The crypto exchange also has an option to acquire BlockFi for about US$240 million based on performance targets. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts […]
Asset manager Morgan Creek Digital is trying to raise US$250 million to counter crypto exchange FTX’s bailout of beleaguered crypto lender BlockFi, according to a report by CoinDesk. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts Morgan Creek is attempting to raise funds to purchase a majority stake in BlockFi, […]
After rescuing crypto-asset broker Voyager Digital last week, crypto exchange FTX founder Sam Bankman-Fried, often known as SBF, has now agreed to bail out crypto lender BlockFi. See related article: BlockFi among those that foreclosed on Three Arrows Capital: report Fast facts FTX agreed to extend a US$250 million revolving credit facility to BlockFi on […]
BlockFi’s Zac Prince says they have fully liquidated 3AC positions. Meanwhile, Hong Kong’s central bank works with the Bank of Israel to study CBDC security.
BlockFi CEO Zac Prince Thursday said the U.S.-based crypto lender foreclosed on a “large client that failed to meet its obligations” following reports that BlockFi was part of the lenders group that canceled some US$400 million in loans made out to Three Arrows Capital (3AC). See related article: Client accuses Bitcoin, Ethereum backer Three Arrows […]
SEC Commissioner Hester Peirce, dubbed Crypto Mom, dissented in Monday’s US$100M BlockFi settlement, saying the punishment does not fit the crime.
New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]
Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]
After only four months in the position, “Crypto Dad” Chris Giancarlo is stepping down from BlockFi’s board of directors, according to a recent press release. No reason for Giancarlo’s departure has yet been provided, though he apparently will continue to provide strategic counsel to the firm in an advisory role. Fast facts Ellen-Blair Chube, Managing […]
What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.
Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.
BlockFi and Visa launch bitcoin rewards credit card. Libra rebrands as Diem. Are investors like Guggenheim fueling BTC prices?
Other top blockchain and cryptocurrency news: Bank of International Settlements considers stablecoins. China sends PlusToken scam ringleaders to prison.