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BlockFi announces bankruptcy and intends to disclose assets and liabilities on Jan. 11

BlockFi to open its books in bankruptcy case and file assets and liabilities on Jan. 11

BlockFi, a crypto lending company, has revealed that it will be submitting information on its assets, liabilities, and payments received prior to its November bankruptcy filing.

This includes a presentation to stakeholders on the plans for future court filings and an overview of the bankruptcy proceedings.

The firm has also been in contact with 106 potential buyers since its first hearing and will ask the court for approval for the bidding process on January 30.

Furthermore, BlockFi has confirmed that no executive team members have withdrawn any crypto from the platform since October 14, and that no withdrawal greater than 0.2 BTC has been made after August 17.

Additionally, the company has made “retention payments” for certain employees after a $400 million revolving credit facility from FTX US in July.

The firm will submit its assets, liabilities, and statement of financial affairs on January 11.

This announcement follows the US Department of Justice’s seizure of more than 55 million shares of Robinhood, worth approximately $450 million, that BlockFi claimed due to financial ties to FTX.

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Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.