Crypto lender BlockFi has announced Coinbase as its distribution partner to enable crypto withdrawals for eligible BlockFi Interest Accounts [BIA], retail loans, and private clients. Following its decision to shut down, the platform is working with Coinbase to ensure seamless operations and a hassle-free user experience. As per the announcement, clients will receive further instructions […]
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BlockFi’s Zac Prince Unveils Bankruptcy Success And Future Ventures
Zac Prince, a co-founder and previous CEO of the bankrupt crypto-lending entity BlockFi, has finally spoken after a critical moment for the cryptocurrency sector and made his next career step public. This publication acts like a ray of light and an illustration of patience in the fluctuating crypto business. Prince’s update mainly praised the successful […]
Bitcoin Hits $50K Amid Crypto Market Turmoil: Analysts Predict $84.5K Target
Bitcoin is in the spotlight, breaking the $50,000 barrier not seen since December ’21. That’s broken through amid turbulent times while the digital currency faces volatility and a number of challenges. The characteristic volatile fluctuations of the cryptocurrency market witnessed a series of events. Besides, Luna has sharply crashed, and FTX went bankrupt. Moreover, Blockfi […]
BlockFi’s Collapse Costs Big Law Firms $40 Million
The bankruptcy of BlockFi Inc., a cryptocurrency exchange that collapsed after the FTX debacle last year, has resulted in a windfall for four Big Law firms that represented the company in its Chapter 11 case. The firms are set to receive $40 million in fees for their work on the liquidation plan, which was approved […]
FTX & BlockFi Affected: Kroll Cybersecurity Incident Exposes Client Data
The claims agent responsible for the bankruptcy case involving cryptocurrency exchange FTX has fallen prey to a cybersecurity incident, compromising non-sensitive customer data for select claimants. The incident has also affected another struggling crypto entity, BlockFi. It seems to be a similar security breach happening concurrently. FTX took prompt action by addressing the issue in a tweet. They […]
SEC Agree To Waive BlockFi’s $30M Fine On One Condition
Troubled crypto lender BlockFi got a major relief after the SEC agreed to spare the $30 million penalty it owed to the commission. The amount is the remainder of the $50 million fine that must be paid to the SEC for failing to register with the regulator for the offering and sale of its crypto […]
BlockFi to Repay $297 Million to its Users
BlockFi, a well-known cryptocurrency lending platform, has made the news again due to recent developments. In November 2022, the company filed for Chapter 11 bankruptcy protection. However, a US judge has now authorized the company to refund $297 million to customers who had deposited funds in its Wallet program. Although this digital asset is returning […]
$50M Frozen: Federal Prosecutors Target FTX Sam Bankman-Fried’s Farmington State Bank
The Federal prosecutors have reportedly seized nearly $50 million of Sam Bankman-Fried, former CEO of FTX, from the account of Farmington State Bank, a small institution based in the tiny town of Farmington, Washington, according to a January 23rd report. The bank, which had previously been known for its specialization in agricultural loans to farmers, had […]
Argo Blockchain’s Bankruptcy Screenshot Leaked – Stakeholders To Brace For Dec 12
Argo Blockchain, an enterprise-scale provider of cryptocurrency mining and smart contract services, will declare bankruptcy. On December 9th, Will Foxley, the content director at Compass Mining, tweeted a screenshot of the Argo Blockchain “special information for stakeholders” regarding its bankruptcy, scheduled for December 12th. As the crypto industry heads towards deeper crypto winter, cryptocurrencies are not only […]
BlockFi and SBF Lock Horns Over Robinhood Shares
According to the Financial Times, which cited loan documents it had seen, cryptocurrency lender BlockFi, which on Monday filed for bankruptcy protection, sued Emergent Fidelity Technologies, the company owned by FTX founder Sam Bankman-Fried, on the same day for Robinhood (HOOD) shares that had been pledged to BlockFi as collateral. According to the complaint, on […]