Bankrupt Crypto Lender Blockfi Enlists Coinbase to Distribute Crypto Payouts
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase for Withdrawals, Plans to Shut Down Web Portal After the […]
BlockFi argues FTX, Three Arrows Capital isn’t entitled to repayments
BlockFi argues its creditors, not FTX’s, are the “ultimate victims” of FTX’s alleged fraud.This post was originally published on this site
BlockFi opens crypto withdrawals for eligible US users following court order
The lending platform halted client withdrawals amid filing for bankruptcy in November 2022, but later petitioned the court for authorization to return user funds.This post was originally published on this site
Maple Finance announces direct lending to fill the void left by BlockFi, Celsius
The lending platform’s team will begin offering loans directly to some borrowers instead of relying solely on pool delegates to provide capital.This post was originally published on this site
Blockfi Announces Self-Liquidation Plan After Failed Attempts to Sell Company
The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands and proceed with a self-liquidating transaction. […]
Bankrupt BlockFi to refund over $100K to California clients
BlockFi filed for Chapter 11 bankruptcy on November 28. Some Califonia users continued to repay their loans between November 11 and November 22 Users were not notified until November 22 that they could stop repaying their Loans “until further notice.” California’s financial watchdog, the Department of Financial Protection and Innovation (DFPI), had previously suspended BlockFi’s […]
Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF
BlockFi’s capital allocated to the money market mutual fund is not FDIC insured, however the fund doesn’t appear to be managed by Silicon Valley Bank. This post was originally published on this site
Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’
According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published, […]
Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Controversy
Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or […]
Robinhood board gives nod to buy Sam Bankman-Fried’s $578M stake
The shares were bought by FTX founder Sam Bankman-Fried and co-founder Gary Wang last year and have been tussled over since the collapse of FTX.This post was originally published on this site