Difference between revisions of "BlockFi"
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| − | FTX US received a <math>400-million credit line at the end of June, leading to worries after the FTX collapse that BlockFi’s exposure would cause it to experience a liquidity crisis. BlockFi halted withdrawals on Nov. 11. BlockFi wrote in an update on its website: | + | {{delete|spam}}FTX US received a <math>400-million credit line at the end of June, leading to worries after the FTX collapse that BlockFi’s exposure would cause it to experience a liquidity crisis. BlockFi halted withdrawals on Nov. 11. BlockFi wrote in an update on its website: |
“Since the pause, our team has explored every strategic option and alternative available to us, and has remained laser-focused on our primary objective of doing the best we can for our clients. These Chapter 11 cases will enable BlockFi to stabilize the business and provide BlockFi with the opportunity to consummate a reorganization plan that maximizes value for all stakeholders, including our valued clients.” | “Since the pause, our team has explored every strategic option and alternative available to us, and has remained laser-focused on our primary objective of doing the best we can for our clients. These Chapter 11 cases will enable BlockFi to stabilize the business and provide BlockFi with the opportunity to consummate a reorganization plan that maximizes value for all stakeholders, including our valued clients.” | ||
Latest revision as of 12:13, 4 September 2024
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FTX US received a
$400-million credit line at the end of June, leading to worries after the FTX collapse that BlockFi’s exposure would cause it to experience a liquidity crisis. BlockFi halted withdrawals on Nov. 11. BlockFi wrote in an update on its website:“Since the pause, our team has explored every strategic option and alternative available to us, and has remained laser-focused on our primary objective of doing the best we can for our clients. These Chapter 11 cases will enable BlockFi to stabilize the business and provide BlockFi with the opportunity to consummate a reorganization plan that maximizes value for all stakeholders, including our valued clients.” The company also tweeted, “As part of our restructuring efforts, we will focus on recovering all obligations owed to BlockFi by counterparties, including FTX.”
In the list of top 50 creditors filed in the court documents, unsecured claims range from$ (Error compiling LaTeX. Unknown error_msg)275 million to West Realm Shires Inc. (FTX US) to 
30 million to the U.S. Securities and Exchange Commission.
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