Bankrupt BlockFi Will Sell 160M Loans Backed by Bitcoin Mining

It has been learned that bankrupt crypto loan platform BlockFi plans to sell $160 million in loans backed by 68,000 Bitcoin (BTC) mining devices.

Bloomberg’s January 24 Sources close to the subject, BlockFi’s approximate 160 million He said he plans to raise financing by selling his $1,000 loan. According to the information conveyed, the company 68 thousand Bitcoin mining started the bidding process for its device-backed loans last year.

Considering the falling mining device prices of the said equipment of the company, which filed for bankruptcy at the end of November, is under-guaranteed and some of the loans currently in default included in the information provided.

On the other hand, BlockFi Chief of Human Resources (CPO) Megan Crowell to retain key employees of the company throughout the litigation process, in a document filed with the court. bonuses and financial incentives requested approval.

As part of BlockFi’s “retention program” in documents published recently, some administrators 500 thousand dollars It was seen that he made serious hikes.

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