BlockFi gave major exchange Kraken almost $50 million worth of digital assets
4 days ago 1 min read

Bankrupt BlockFi moves around $50 million in digital assets

According to reports, Bankrupt BlockFi moved almost $50 million worth of digital assets to the crypto exchange Kraken, including a substantial position in Chainlink (LINK). The transfer of around 2.4 million LINK tokens, worth over $48.37 million, has generated debate about the possible future price impact. Bankrupt BlockFi transferred its LINK holdings to Kraken recently, along with tokens like UNI, AVAX, and MATIC, according to on-chain monitor EmberCN. This move is a step in the liquidation process, as the company’s bankruptcy case is still pending. In September 2023, BlockFi received court approval to begin client repayments as part of its

BlockFi to open its books in bankruptcy case and file assets and liabilities on Jan. 11
1 year ago 1 min read

BlockFi announces bankruptcy and intends to disclose 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 Furthermore, BlockFi has confirmed that no executive team members have withdrawn any crypto from the platform since October 14, and that no withdrawal greater than