BlockFi
Bankrupt crypto lender BlockFi to start creditor repayments in July
Published
2 months agoon
By
adminDefunct cryptocurrency lending platform BlockFi is set to start repaying its creditors in July, 19 months after filing for bankruptcy.
Collapsed crypto lending platform BlockFi will start repaying its creditors in July, nearly two years after the firm filed for bankruptcy amid the dramatic collapse of the FTX crypto exchange.
In an X post on Thursday, the New Jersey-headquartered firm said the distributions will be processed “in batches in the coming months” via Coinbase, adding that eligible clients will receive a notification to the BlockFi account email on file. However, it clarified that non-U.S. clients remain unable to receive funds due to regulatory requirements, with no specified timeline for these repayments.
For those who are unable to open a Coinbase account, BlockFi earlier assured that all distributions “will be made in cash.”
In March, BlockFi announced it is unlikely to fully repay customers with interest-bearing accounts. The company had previously estimated that these customers might recover between 39.4% and 100% of their account value. The crypto lending giant filed for Chapter 11 protection in November amid market volatility and substantial exposure to the defunct crypto exchange FTX. Less than a year later, BlockFi emerged from bankruptcy and is now working on repaying its creditors.
Source link
You may like
Eyes on Solana’s recovery in September as APORK looks to be next to pump 100x
Sui Price Eye 96% Hike; Is ATH Within Reach Soon?
Spanish Crypto Exchange Bit2Me Obtains License in Argentina as a Virtual Asset Service Provider
Bitcoin price ready for bullish breakout, analysts say
Toncoin Price Eyes $8 Breakout as TON Network Hits $1 Billion USDT Issuance
A crypto with 11x growth potential attracting ETH & TON whales
Eyes on Solana’s recovery in September as APORK looks to be next to pump 100x
Sui Price Eye 96% Hike; Is ATH Within Reach Soon?
Spanish Crypto Exchange Bit2Me Obtains License in Argentina as a Virtual Asset Service Provider
Bitcoin price ready for bullish breakout, analysts say
Toncoin Price Eyes $8 Breakout as TON Network Hits $1 Billion USDT Issuance
A crypto with 11x growth potential attracting ETH & TON whales
Mpeppe Takes Internet Computer (ICP) Spot As Top Gainers ICP Holder Look To Liquidate
Bitcoin Price $60K Breakout Meets Major Accumulation; Is ATH Next Stop?
Arbitrum, ApeCoin in focus ahead of big token unlocks
Is Ethereum Price $4K Rally at Risk Amid Pectra Upgrade Division Talks?
Analyst Benjamin Cowen Predicts Altcoin Bleed-Out Toward End of the Year – Here’s Why
$1.3b Bitcoin left exchanges, bulls deny losing $60k
World’s 5th Top Crypto Investor Lost $43.5M Revealing How Not All Trades Are Perfect
When Are the Next Big Telegram Game Airdrops? From ‘Hamster Kombat’ to ‘Catizen’ and ‘Rocky Rabbit’
Base Blockchain active addresses, transactions hit all-time high
Top Crypto News Headlines of The Week
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Bitcoin Open-Source Development Takes The Stage In Nashville
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Why Did Trump Change His Mind on Bitcoin?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Dormant Bitcoin wallet from 2014 moves BTC worth $10.2m
Will Toncoin Price Crash to $2 As Founder Gets Arrested In France?
Australia’s police joins global campaign to disrupt crypto scams
Polygon on-chain activity spikes despite MATIC price dip
Trending
- 24/7 Cryptocurrency News4 weeks ago
Top Crypto News Headlines of The Week
- Bitcoin2 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Bitcoin2 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Opinion2 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Altcoins1 month ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Price analysis1 month ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Donald Trump2 months ago
Why Did Trump Change His Mind on Bitcoin?
- Price analysis1 month ago
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction