Crypto Bankruptcies Are Very Complicated
The FTX, Voyager, Celsius and BlockFi bankruptcy proceedings are proving how complicated they really are.
Bitfarms Seeks To Modify Loan Facility With BlockFi As Bear Market Drags On
Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market.
Bitcoin Miner Bitfarms Looks to Amend BlockFi Loan, Warns of Default
Bitcoin miner Bitfarms (BITF) is looking to modify a $20 million loan from bankrupt crypto lender BlockFi, the firm said in a press release on Friday.
FTX Loan Wiped Out $800M in BlockFi Executives’ Equity, Filings Reveal
A loan from FTX last year saw BlockFi executives’ equity holdings wiped out by a total $800 million – in exchange for which they granted themselves pay rises of as much as $500,000 each, filings show.
BlockFi Creditors Battle to Keep Their Details Secret
BlockFi creditors are seeking to keep their personal details secret, arguing in a Tuesday court filing that they will be at risk of hacks or identity theft if their names are revealed as part of bankruptcy proceedings.
BlockFi to Reveal Statement of Financial Affairs on January 11th
BlockFi said it plans to disclose assets and liabilities, as well as statements of certain payments made by the platform to insiders and other parties prior to its bankruptcy filing in November.
BlockFi Promises Breakdown of Finances As Bankruptcy Hearing Proceeds
BlockFi said publicly that it will file a financial breakdown soon following progress in its Jan. 9 bankruptcy hearing.
BlockFi Management Hasn't Withdrawn any Crypto Since October, Lawyers Tell Court
Executives of bankrupt crypto lender BlockFi have not withdrawn any of their own cryptocurrencies locked up in the platform since October, a lawyer for the company told a New Jersey court on Monday, contrasting it to fellow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.
Investors Seek To Sell FTX, Celsius, BlockFi, Voyager Claims
Instead of waiting for a lengthy bankruptcy process, some investors, who have claims on FTX exchange, Celsius Network, BlockFi and Voyager Digital, are looking to pass on their claims to others.
Disputed Robinhood Shares May Be Moved to Neutral Account at BlockFi’s Request
The judge overseeing BlockFi’s ongoing bankruptcy case agreed today to review a request that could see 56 million Robinhood shares moved to a neutral location, according to a report from the Wall Street Journal on Dec. 28.
