BlockFi Plans to File Assets and liabilities for Bankruptcy Case on Jan.11

The company claimed that there had been no withdrawals from the platform by members of the management team.

Crypto lending firm BlockFi has declared it will unveil information on its assets and liabilities as well as payments got before its bankruptcy filing in November.

In a Jan. 9 Twitter string, BlockFi said it had filed a presentation for its stakeholders specifying plans for future court filings and an overview of the bankruptcy procedures. According to the lending firm, the company reached out to 106 potential purchasers shortly after its first bankruptcy hearing in November and will request the court’s endorsement in regards to the offering process on Jan. 30.

The company claimed that there had been no withdrawals from the platform by members of the management team. 14 nor “made a withdrawal greater than 0.2 BTC in value at any time” after Aug. 17. The firm also noted it had “increase[d] base pay rates and ma[de] maintenance payments” for specific workers following a $400 million rotating credit office from FTX US in July.

BlockFi said it planned to file its assets and liabilities, alongside a statement of financial undertakings on Jan 11. The declaration followed the US Branch of Equity telling the court taking care of the BlockFi bankruptcy that it had held onto in excess of 55 million portions of Robinhood — worth generally $450 million at the hour of publication — as a feature of the criminal body of evidence against crypto exchange FTX and its leaders. BlockFi was one of the gatherings asserting freedoms to the offers given specific financial connections to FTX.
Crypto firms FTX, Celsius Network, BlockFi and Voyager Digital all filed for Part 11 bankruptcy in 2022, with numerous users revealing losses totaling in huge number of dollars. The following formal review for FTX’s bankruptcy case is planned for Jan. There is an omnibus hearing on Jan.
17.

.