Christine Okike said BlockFi remains safe and looked to access significant cash held with Silicon Valley Bank yesterday. Despite the Silicon Bank exposure, a BlockFi bankruptcy lawyer maintains that ...
Tag: BlockFi
Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple
As the fallout from the stunning collapse of Silicon Valley Bank (SVB) plays out, numerous crypto companies have signaled their exposure to the bank, which long maintained a reputation as one of the m...
BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report
According to a lawyer representing the bankrupt crypto lender BlockFi Inc.,the company is in a stable financial position with access to ample cash reserves, despite having over $200 million in exposur...
BlockFi Has Cash Access for Staff, Vendors Despite SVB Collapse: Attorney
The New Jersey bankruptcy court had banned BlockFi from investing in secondary financial markets, according to a filing by U.S. Trustee Andrew Vara made on Friday. In a series of letters starting Feb....
BlockFi warned over $227m stuck in Silicon Valley Bank
BlockFi, a cryptocurrency lending platform, has been warned by the bankruptcy trustee that the $227m the company has in Silicon Valley Bank (SVB) may go against bankruptcy laws. This is because these...
Defunct Crypto Lender BlockFi Has $227 Million in Uninsured Funds with Troubled Silicon Valley Bank
Air pollution is a significant public health concern worldwide, and recent studies have found high levels of air pollution in major cities around the world. The issue is particularly prevalent in deve...
Bankrupt crypto lender BlockFi reveals $227M exposure to Silicon Valley Bank
Bankrupt crypto lender BlockFi has revealed a $227 million exposure to Silicon Valley Bank. BlockFi’s deposits are not insured by the FDIC since they were invested in a money mutual market fund. Bankr...
Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF
According to a new bankruptcy filing, defunct crypto lender BlockFi has $227 million worth of uninsured funds allocated to a money market mutual fund (MMMF) offered by troubled Silicon Valley Bank (SV...
Circle, BlockFi may have exposure to Silicon Valley Bank; other firms deny exposure
Ad California-based Silicon Valley Bank (SVB), a unit of SVB Financial Group, has been shut down, according to an announcement from financial regulators on March 10. Silicon Valley Bank closed by regu...
BlockFi has $227 million in uninsured funds in Silicon Valley Bank
Crypto lender BlockFi has $227 million in “unprotected” funds in Silicon Valley Bank, according to a bankruptcy document, and may be in violation of U.S. bankruptcy law. The bank was shut down b...
Silvergate closes exchange network, releases $9.9M to BlockFi
Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision.“ The move comes after the bank’s stock fel...
Silvergate to return $9.85M deposit to BlockFi
Ad Silvergate Bank has been ordered to return $9.85 million to BlockFi as part of the latter firm’s ongoing bankruptcy proceedings, according to a March 3 filing. BlockFi will see $9.85 million return...
Silvergate Bank to release nearly $9.9 million to BlockFi
A bankruptcy judge has ordered Silvergate Bank to release nearly $9.9 million to crypto lender BlockFi, days after the bank said it was “reevaluating its business” and could be “less than well-c...
Crypto: Gemini responsible for BlockFi failure
A class action lawsuit has been filed against the founders, two administrators and the Gemini exchange platform by an investor who has about $2 million in funds frozen at the failed crypto lender, Blo...
FTX and BlockFi bankruptcies spook Visa and Mastercard
Payment processors Mastercard and Visa say they have no plans to alter their crypto strategies despite delaying plans to forge new relationships in the industry, following the high-profile collapses o...
Voyager agrees to reserve $445m after suit from Alameda Research
Legal • February 27, 2023, 6:06PM EST Published 1 hour and 30 minutes earlier on Defunct crypto lender Voyager Digital agreed to reserve $445 million after the firm was sued by bankrupt trading firm A...
BlockFi Accuses Creditors of Being ‘Divorced From Reality’
Troubled crypto lender BlockFi has temporarily halted its plan to return certain cryptocurrencies to users amid its ongoing bankruptcy proceedings. The firm is currently negotiating with creditors ove...
BlockFi embroiled in bankruptcy drama over customer wallets
While its customers have been locked out of their accounts since November, failed crypto lender BlockFi is locked in a bankruptcy court battle. The war of words is playing out on a court docket ...
BlockFi appeals to cancel bankruptcy status for SBF’s offshore investment vehicle
The consequences of the FTX scandal at the hands of its founder and former CEO, Sam “SBF” Bankman-Fried, continue to surface. On Feb. 17, it was reported that bankrupt crypto lender BlockFi has appea...
BlockFi Files Motion to Dismiss Bankruptcy Case for SBF’s Emergent Fidelity
Bankrupt crypto lender BlockFi has filed a motion to dismiss the bankruptcy case for Emergent Fidelity Technologies, the holding firm owned by Sam Bankman-Fried (SBF), founder and former CEO of FTX. I...
BlockFi files to dismiss SBF’s Emergent company bankruptcy case
Ad Bankrupt crypto lender BlockFi has asked the court to dismiss a bankruptcy case filed by Sam Bankman-Fried’s (SBF) Emergent Technology company over a tussle to control 55 million Robinhood shares. ...
Gensler opens new regulatory front for crypto firms: custody
SEC Chair Gary Gensler signaled an escalation to his post-FTX crackdown on the crypto industry on Wednesday, saying that digital asset firms are in broad violation of current custodial rules meant to ...
Bitfarms Settles Debt with BlockFi
Bitfarms, a company that mines for Bitcoin (BTC), has fulfilled its financial obligations to BlockFi, putting an end to the short-lived commercial agreement that it had with the now-defunct cryptocurr...
Bitfarms pays down $21 million BlockFi loan with $7.75 million in cash
Bitcoin miner Birfarms settled $21 million in debt from BlockFi with a single payment of $7.75 million in cash. The value of mining machines that collateralize those loans has dropped significan...
Crypto Lender BlockFi Granted Approval to Sell Assets
The bankrupt cryptocurrency lender BlockFi has obtained approval to sell its crypto mining equipment as it tries to repay its creditors. BlockFi has received approval from the United States Bankruptcy...
BlockFi Earned Court Approval to Sell Crypto Mining Equipment
BlockFi, a globally popular cryptocurrency lender, opted to file for chapter-11 bankruptcy in the last week of November 2022. The company states that FTX’s collapse is the main reason for filing for b...
BlockFi gets court nod to sell crypto mining assets
Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing efforts to repay its creditors. A court order filed on Jan. 30 in the United S...
BlockFi Can Take Action To Rescue Itself From Bankruptcy
Join Our Telegram channel to stay up to date on breaking news coverage BlockFi, the cryptocurrency lender that declared bankruptcy following the FTX collapse, has been approved by the New Jersey bankr...
BlockFi Got Approval to Set UP Auction of Crypto Mining Assets
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 Cour...
Judge Approves BlockFi Request to Auction Mining Assets
Distressed crypto lender BlockFi can auction mining assets to exploit favorable market conditions, a U.S. bankruptcy judge rules. BlockFi’s assets have courted significant interest given crypto market...
BlockFi permitted to auction mining equipment
BlockFi has gained permission in bankruptcy court to sell its cryptocurrency mining equipment, Bloomberg reported Jan. 30. Bloomberg cited statements made by BlockFi representatives during a video he...
BlockFi Gets The Nod To Accept Bids For Crypto Mining Business
– Advertisement – The bankruptcy court has approved BlockFi’s request to set up the auction for its mining equipment. Potential buyers will have till 20 February to submit their bids. Th...