Crypto loan platform BlockFi, which has filed for bankruptcy, is trying every way to stay afloat, including selling its assets and laying off employees.
According to Bloomberg’s report, BlockFi is in court, in order to continue the company’s commercial and administrative activities. $239 million reported that it has sold worth of crypto assets. Also, the company 250 warned his employee that they would lose their jobs before filing for bankruptcy.
Company advisor Mark Renzi said in court that BlockFi sold some of its assets to finance bankruptcy expenses and to finance the restructuring process. do not plan to take a loan reported. About the company $257 million cash It was also among the information obtained that this amount would be sufficient to finance the restructuring process.
According to the report, Renzi said the company plans to restructure itself in bankruptcy court instead of selling it, but has not entered into any agreements that will maximize the interests of creditors. they are open reported. Noting that the consequences of FTX’s collapse have not yet been clearly determined, Renzi also stated that the company has no choice but to file for bankruptcy. In addition, the consultant does not take any part in the financials of the company. error and irregularity detection that you didn’t also highlighted. In court minutes, BlockFi still tells the SEC 30 million dollars appeared to be in debt.
Changpeng Zhao, the CEO of Binance, also recently suggested that the effects of the FTX collapse will make itself felt in waves over a period of time.