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 […]
Massive Loss For Crypto Lender Hodlnaut in Terra Crash
A court report said that the crypto lender’s directors “played down” how much risk the company had in the Terra ecosystem. A legal report is said to have shown that Hodlnaut lost about $189.7 million because of its exposure to the Terra crash. Bloomberg says that the report, which was written by interim judicial managers […]
New site identifies losses of Celsius Network’s largest customers
Each of the top 10 Celsius clients had a balance of tens of millions of dollars, and as a group, they lost $220 million. A new website has appeared that details the financial losses suffered by Celsius customers as a result of the crypto lender’s insolvency. The website CelsiusNetWorth.com even has a scorecard that displays […]
Celsius Shareholders’ Demand for Bankruptcy Payouts
Lawyers say in a motion that the bankruptcy of Celsius is “all about the customers” and “without regard for the equity holders.” Holders of preferred equity in the failed cryptocurrency lender Celsius Network want to make sure they are at the table when decisions are made about getting their investments back and getting the first […]