Genesis Creditors Hire Lawyers to Prevent Bankruptcy
Bloomberg News says that Genesis is in talks with its creditors and possible investors. People who know about the situation told Bloomberg News on Wednesday that the creditors of Genesis Global Trading have hired restructuring lawyers to help figure out a way to keep the crypto brokerage from having to file for bankruptcy. People say […]
BlockFi sues Sam Bankman-Fried over shares in Robinhood
Bankrupt cryptocurrency lender BlockFi is suing FTX’s Bankman-Fried’s investment company Emergent Fidelity Technologies to turn over its $575M stake in Robinhood as collateral it agreed to pay. Sam Bankman-holding Fried’s firm has been sued by now bankrupt cryptocurrency lending business BlockFi for the shares of Robinhood that Bankman-Fried promised as collateral earlier this month. Just […]
Silvergate Unveils Value of Its BlockFi Digital Asset Deposit Exposure
Following the filing of a bankruptcy petition by BlockFi, the share price of the bank fell by 11% on Monday, landing at $25.90. In a press release issued late on Monday, Silvergate Capital (SI) stated that its total digital asset deposit relationship with BlockFi, which filed for Chapter 11 bankruptcy protection on Monday, is less […]
Reports claims BlockFi is preparing for potential bankruptcy
According to Wall Street Journal articles, BlockFi is getting ready for possible bankruptcy following the failure of FTX. BlockFi, a cryptocurrency lending business, was similarly impacted by FTX’s decline. BlockFi stopped the withdrawals on their platform in the midst of the commotion. On November 11, the users of the New Jersey-based exchange were warned that […]
BlockFi restricts platform activity, stopping customer withdrawals
Following the collapse of FTX, cryptocurrency lender BlockFi has stopped client withdrawals on its platform as part of a broader restriction on platform activity. BlockFi claimed in a tweet on Nov. 11 that it was unable to conduct business as usual due to “a lack of clarification on the status of FTX.com, FTX US, and […]