Executives of bankrupt crypto lender BlockFi have not withdrawn any of their own cryptocurrencies locked up in the platform since October, a lawyer for the company told a New Jersey court on Monday, contrasting it to fellow bankrupt crypto lender Celsius.
BlockFi filed for bankruptcy in late November 2022 shortly after the stunning collapse of crypto exchange FTX.
"I think the important takeaway here is that there was no situation where insiders were pulling money off the platform on the eve of or anywhere near this bankruptcy file," Joshua Sussberg, partner at law firm Kirkland & Ellis and representative for BlockFi said during the second hearing in its Chapter 11 bankruptcy proceedings. Kirkland & Ellis also represents Celsius in its own bankruptcy proceeding.
All Comments