Bankrupt crypto lending platform BlockFi received court approval to put its Bitcoin mining business up for auction. The company plans to sell its equipment as fast as possible, to take advantage of c...
Tag: BlockFi
BlockFi Gets Approval to Pay Staff $10M Bonus
New Jersey bankruptcy court Judge Michael Kaplan approved crypto lender’s BlockFi motion to pay its staff up to $10 million in a “retention program,” according to a Jan. 27 filing. Court filing showed...
BlockFi permitted to pay $10M in staff bonuses in spite of bankruptcy
Bankrupt crypto lending firm BlockFi has been granted court permission to pay nearly $10 million in staff bonuses, according to a filing dated Jan. 27. The filing does not use the word “bonus” itself....
Bankrupt Crypto Lender BlockFi Had Secret $1,200,000,000 Relationship With FTX and Alameda: Report
A new report finds that bankrupt crypto lender BlockFi had more financial interest in Sam Bankman-Fried’s FTX and Alameda Research than originally believed. During BlockFi’s first bankruptcy hearing i...
BlockFi Owed Alameda Research $800M, Leaked Report Reveals
A CNBC report claims that BlockFi has over $800 million in loans to Alameda Research and $416 million in assets connected to the bankrupt exchange FTX. According to CNBC, these numbers are valid as of...
Secret BlockFi Financials Reveal $1.2 Billion Exposure to FTX
Bankrupt cryptocurrency lender BlockFi accidentally revealed a previously redacted copy of its balance sheet indicating that it had over $1.2 billion in assets tied to FTX and Alameda Research. BlockF...
Leaked Docs Show BlockFi Had Over $1.2B Tied to FTX Ecosystem
The bankrupt crypto lender’s leaked financials include $831M+ in loans to Alameda Research. Embattled crypto lender BlockFi mistakenly released financial documents that showed that it had $1.25 billio...
BlockFi Creditor Committee Advisor Reveals $1.2B Exposure to FTX, Alameda Research
The now-bankrupt crypto lending firm BlockFi has reportedly more than $1.2 billion in assets linked to FTX and Alameda Research, the two companies founded by the fallen crypto mogul Sam Bankman-Fried....
BlockFi has no ‘secret financials’ after filings show $1.2b exposure to FTX, Alameda
Failed crypto lender BlockFi says it “disclosed accurate information” to a New Jersey bankruptcy court after an unredacted court filing showed the firm has a $1.2 billion exposure to troubled exchange...
Blockfi Has over $1.2 Billion in Assets Tied up with Ftx and Alameda
BlockFi, a digital asset lender had more than $1.2 billion in assets strung with the recently bankrupted firm FTX as well as Alameda Research, as per the financials that have been removed before but b...
Unredacted document shows $1.2B in BlockFi assets linked to SBF
Bankrupt lender BlockFi was revealed to have more than $1 billion in assets linked to FTX and Alameda Research when a creditor committee accidentally published unredacted financial records. As reporte...
BlockFi Reportedly Has Around $1.2 Billion Exposure to FTX
42 mins ago | 2 mins read Defi News FTX and its subsidiaries filed for bankruptcy in November of last year. BlockFi temporarily halted withdrawals on November 28 and filed for bankruptcy. According to...
BlockFi Exposed: Leaked Financials Reveal Shocking $1.2 Billion FTX Exposure
BlockFi, a fallen cryptocurrency lending, and borrowing platform have reportedly posted uncensored financials revealing a $1.2 billion exposure to the FTX exchange and Alameda Research. BlockFi has $4...
Uncensored BlockFi Financials Leaked, Nearly Half of All Assets Tied to FTX Group
BlockFi, already rattled by prior exposure to 3AC, was forced to file for Chapter 11 bankruptcy shortly after the FTX Group went down, taking a sizable number of crypto-related companies with it. The ...
BlockFi Desperate To Cling To Experts As Bankruptcy Process Rumbles On
Join Our Telegram channel to stay up to date on breaking news coverage BlockFi is planning to retain as much talent as possible even as the lender continues with the bankruptcy process. The Chief Peop...
BlockFi to Sell $160 Million in Bitcoin Mining Machine
It would appear that the now-defunct cryptocurrency loan business BlockFi intends to dispose of debts worth approximately $160 million that are guaranteed by approximately 68,000 Bitcoin mining machin...
BlockFi secret financials show $1.2 billion tie to FTX and Alameda
BlockFi logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on November 14, 2022. Jakub Porzycki | Nurphoto | Getty Imag...
BlockFi to liquidate millions by selling Bitcoin miner-backed loans: Report
The bankrupt crypto lending firm BlockFi is planning to sell off $160 million in loans backed by 68,000 Bitcoin mining equipment. BlockFi’s effort to liquidate its loans is most likely a result of its...
BlockFi back to Sell Bitcoin Mining Machine-Backed Loans – Cryptopolitan
Crypto lender BlockFi Inc. was declared Bankrupt previously and now plans to sell about $160 million of loans backed by almost 68,000 Bitcoin mining machines. The New Jersey-based company filed for pr...
BlockFi Seeks Urgent Approval for Employee Retention Plan
Bankrupt crypto lender BlockFi is willing to offer certain employees a 10% to 50% retention bonus as it seeks to prevent a mass employee exodus. According to BlockFi Chief People Officer Megan Cromwel...
BlockFi exec argues bankruptcy court should approve bonuses to retain talent
Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings. In a Jan. 23 declaration for...
Bankrupt BlockFi to Sell $160M in Bitcoin Mining Hardware Loans: Report
The embattled crypto company has around $160 million in loans backed by 68,000 Bitcoin mining rigs which it needs to sell. The New Jersey-based firm started the bidding process for the loans last year...
BlockFi looks to sell bitcoin mining loans totaling $160 million: Bloomberg
Crypto lender BlockFi is looking to sell $160 million in bitcoin mining machine-backed loans amid its bankruptcy process. The bidding started last year and some of the loans may be under-collate...
Bankrupt crypto lender BlockFi urges court to approve bonuses amid ‘war for talent’
BlockFi is urging the court to approve the payment of bonuses as the crypto lender struggles to retain staff following its filing for Chapter 11 bankruptcy protection. “Despite an incredib...
Bitfarms seeks to modify loan facility with BlockFi as bear market drags on
Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On Jan. 13, Bit...
Bitfarms seeks to avoid BlockFi loan default with renegotiation
Bitfarms is seeking to modify a loan with BlockFi to avoid default as the value of equipment plummets. Last year, Bitfarms’ Backbone Mining Solutions entered into a $32 million equipment financi...
FTX Loan Washed Out $800M in BlockFi Executives Equity
4 hours ago | 2 mins read Exchange News As per court filings, the FTX loan has swept away $800M in BlockFi executive equity. The filing details the effects of a June FTX loan on 13 BlockFi executives...
BlockFi increased some executives’ salaries after wipeout of equity stakes
Several BlockFi executive team members saw their equity stakes wiped out last year as part of its emergency restructuring plan, which included borrowing $400 million from collapsed crypto exchange FTX...
BlockFi Seeks the Court Remain Their Personal Data Confidential
2 hours ago | 2 mins read Exchange News BlockFi creditors have asked that their details be kept private. BlockFi shares concerns about identity theft and becoming a target for hackers. BlockFi, an onl...
BlockFi Compensated Investor 15Mn USD, Says Attorney
BlockFi executives had to repay an amount of 15 million USD to an investor for the settlement of a threatened lawsuit, according to the report citing BlockFi attorneys during bankruptcy court hearing....
BlockFi creditors seek to keep personal details secret
Fearing identity theft or becoming the target of hackers, creditors in the BlockFi bankruptcy proceedings have requested that their personal information remain secret. However, U.S. Department o...