BlockFi shared that it is working on “recovering all obligations owed to BlockFi”, but expects that the process may take quite a while as FTX has filed for bankruptcy.
by BlockFi, although a majority of its assets were not on FTX, it still has “significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX US.”
Despite its exposure, BlockFi assured clients that it has “the necessary liquidity to explore all options” and is currently consulting with experts and advisers on how to navigate its next steps. According to the crypto lender, it is still working on “recovering all obligations owed to BlockFi” but expects that the process may take a while, as FTX is currently working through its bankruptcy process.
With regard to its credit card product, BlockFi shared that it will provide direct details “as and when appropriate.” Meanwhile, the platform said it plans to continue its pause on many activities after determining that it could not operate business as usual in the current market climate. BlockFi also cautioned its clients to avoid making any deposits to their BlockFi wallets or interest accounts.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
BlockFi says platform pause will continueCrypto lending firm BlockFi said it would continue to pause many of its platform activities 'for now' after FTX filed for bankruptcy protection last week.
Baca lebih lajut »
After BlockFi pauses withdrawals, customers are left confused and angry'Gutted right now,' one customer of the once-$3 billion valuation lending firm said.
Baca lebih lajut »
After pausing withdrawals, BlockFi customers are confused and angry'Gutted right now,' one customer of the once-$3 billion valuation lending firm said.
Baca lebih lajut »
FTX Founder Secretly Moved Funds Through Backdoor: FTX InsiderFTX insider has reportedly stated that recent FTX 'hack' was illegal withdrawal of funds from FTX to Alameda Research
Baca lebih lajut »
Binance’s CZ says users share blame for placing trust in FTX, should take responsibility'You are also always looking at the most responsible person to yourself, which is yourself,' CZ sounded off in a recent AMA.
Baca lebih lajut »
Major Crypto Hedge Fund Underwater Due to FTX CrisisThe California-based hedge fund has been caught off guard by the collapse of the FTX exchange
Baca lebih lajut »