BlockFi, in a recent press release, publicly revealed the extent of damage they had suffered due to the FTX saga. The statement was a response to how all of FTX’s clients seem to suffer greatly due to...
Tag: BlockFi
BlockFi Heading For Bankruptcy After FTX Exposure
Crypto lender BlockFi is preparing for a potential bankruptcy filing in the wake of the collapse of the FTX crypto exchange last week. Latest FTX Casualty – BlockFi The FTX saga continues with ...
BlockFi Reportedly Planning to File Bankruptcy Post FTX Fall
3 hours ago | 2 mins read Defi News The cryptocurrency lender has revealed that it has substantial exposure to FTX. FTX bought BlockFi in July, when the crypto lending platform was struggling. The FTX...
Crypto Lender BlockFi Prepares To Go Belly Up Amid FTX Bankruptcy
BlockFi, a cryptocurrency platform offering multiple financial products like low-interest loans and a crypto rewards credit card, could become the latest casualty following the FTX collapse that conti...
BlockFi Preps For Potential Bankruptcy After FTX Collapse
BlockFi yesterday acknowledged considerable exposure in the form of not just assets on the exchange but also additional obligations owed by FTX, especially an undrawn line of credit from FTX, despite ...
BlockFi Facing Bankruptcy: Report
Alex Dovbnya BlockFi is on the verge of collapsing into bankruptcy, according to a recent report by the Wall Street Journal According to a Tuesday report published by the Wall Street Journal, cryptocu...
BlockFi Tells Customers Withdrawals Still Paused Due to ‘Significant Exposure to FTX’
In brief BlockFi will keep customer withdrawals paused as it figures out a path forward after FTX’s collapse last week. The crypto lending platform took a $400M line of credit from FTX US this summer....
BlockFi reportedly mulling bankruptcy, SALT pauses withdrawals and deposits
In an official update sent to clients on Nov 14, BlockFi admitted to having “significant exposure” to FTX and its affiliated companies, but insisted it had “the necessary liquidity to explore all opti...
Find Here The Recent Updates From Crypto Lender, BlockFi
BlockFi last week paused its withdrawal. The firm was asking its clients for funds in the final hours and even for collateral. The outcome of FTX’s dramatic collapse, the Crypto Lending Firm, BlockFi,...
FTX Collapse About to Claim First Huge Victim: BlockFi
The first big victim of the unexpected collapse of the FTX cryptocurrency exchange has now emerged. It’s cryptocurrency lender BlockFi, which was bailed out last summer by FTX and its founder a...
BlockFi preps possible Chapter 11 bankruptcy protection filing: WSJ
Crypto lending firm BlockFi is preparing for a possible Chapter 11 bankruptcy protection filing, according to the Wall Street Journal. The firm also plans to conduct layoffs, the journal reporte...
BlockFi Exploring Bankruptcy in Response to FTX Fallout: Report
BlockFi is looking for answers to its liquidity troubles caused by its heavy exposure to FTX – and bankruptcy is reportedly on the table. The crypto lending firm is already preparing a potential bank...
BlockFi Eyes Bankruptcy as FTX Fallout Continues: Report
BlockFi is preparing to once again to lay off staffers as the crypto lender considers a possible bankruptcy filing, the Wall Street Journal reported Tuesday. The move, per the Journal’s report, is the...
BlockFi Claims That Majority of Its Assets Didn’t Go Down with FTX
BlockFi said the rumor is not entirely true and issued a statement to clarify the situation on the ground. Crypto lender BlockFi was recently named as one of many firms that may be directly hit by the...
BlockFi expresses its anguish regarding FTX’s bankruptcy
BlockFi has gone the extra mile and made a public announcement regarding its sheer anguish. This is in reference to how the negative situation at FTX appears to be having a terrible impact on all of i...
BlockFi denies rumors that majority of its assets were held on FTX
Crypto lender BlockFi issued an official notice to its clients on Nov. 14 denying rumors that the majority of its assets were on FTX prior to the exchange’s collapse. According to an update shared by ...
BlockFi has ‘significant exposure’ to FTX, denies talk of majority of assets being custodied at FTX
BlockFi has responded to the controversies surrounding FTX and its reported connection to the embattled cryptocurrency exchange in a recent statement to its users. The crypto firm denied allegations t...
Crypto Lender BlockFi Updates Users on Platform, FTX Exposure
As for chatter that all or even a majority of BlockFi’s assets were held in custody – and therefore tied up for potentially a long time and perhaps even unrecoverable – the company said that is ...
FTX Fallout Continues: Visa Dumps FTX, BlockFi Still Suspended, Crypto.com Skirts a Bank Run
Key Takeaways Visa has announced that it will break off its partnership with FTX following the exchange’s collapse. Elsewhere, BlockFi said that it will continue to suspend withdrawals due to it...
BlockFi says platform pause will continue
Crypto lending firm BlockFi said it would continue to pause many of its platform activities “for now” after FTX filed for bankruptcy protection last week. “The rumors that a ma...
FTX tried to ‘buy time’ with Voyager and BlockFi bids, Lumida CEO says
FTX’s acquisition of creditors was a ploy to buy time and slow down a margin call, Ram Ahluwalia, the CEO of crypto-native investment advisor Lumida Wealth Management says. Sam Bankman-Fried’s FTX, Al...
Curve Seeking 87K Credit Card Customers of BlockFi
BlockFi seems to find a helping hand amidst all the chaos with the crypto firm following the FTX issue. Recently, the beleaguered crypto lender reported receiving an offer to acquire its over 87,000 c...
Binance at war for BlockFi cards
Binance, together with Coinbase and Curve, are among the exchanges in pursuit of BlockFi credit card customers. A bidding war is expected to be settled within the next few hours. Specifically, the sm...
After pausing withdrawals, BlockFi customers are confused and angry
In the aftermath of FTX’s dramatic demise, crypto lending firm BlockFi stunned users with an announcement that it would pause withdrawals. Now, they’re waiting confused and without many an...
Binance US, Coinbase, Curve in Bidding War for BlockFi Credit Card Customers
By Jon Rice / November 12, 2022, 6:38 pm EST Binance US and Coinbase are among the bidders for the BlockFi credit card program and its associated customers, Blockworks has learned, while smaller finte...
FTX Post Bankruptcy Effects On BlockFi?
FTX filed bankruptcy under for Chapter 11 Bankruptcy rules. Crypto lender BlockFi is said to have connection with the Bahamian crypto exchange Recently FTX filed for bankruptcy under Chapter 11 of th...
FTX Effects Continues, Even After the Fall of BlockFi!
BlockFi announces an official halt of all possible transactions. The ban on transactions was said to be temporary. All revolves around the fall of FTX globally. Ever since the fight between FTX and Bi...
BlockFi Protecting Users From Uncertain Alameda and FTX Scenario
BlockFi announced a temporary halt on fund withdrawal. The announcement comes following the potential liquidation of FTX. FTT was trading at the market price of $2.9. The Effects Had Begun The news of...
BlockFi blocks withdrawals – The Cryptonomist
The BlockFi trading platform, among the most robust and least affected by the FTX contagion, changes its mind and with a statement posted on its Twitter account informs that it will limit operations o...
California moves to suspend BlockFi’s lending license in state
California’s Department of Financial Protection and Innovation issued a notice to suspend crypto lender BlockFi’s license in the state for 30 days pending an investigation into the company...
BlockFi halts withdrawals in the wake of FTX collapse
BlockFi has fallen victim to the collapse of the FTX behemoth. BlockFi said on November 11 that “business as usual” was no longer possible. It cited a lack of clarity surrounding FTX, FTX.US, and Alam...