Bankrupt crypto lending platform BlockFi has requested to liquidate the company in order to be able to pay its customers.
BlockFi, as a last resort after protracted rescue efforts, liquidation he chose to do. Friday, May 12 The liquidation plan submitted to the U.S. Bankruptcy Court the day before the liquidation of the company requires a significant payment to the customers. last resort was stated.
The well-established cryptocurrency company has recently launched its products and platforms. tried to sell to third parties but he could not achieve the desired result.
The company retains the assets of the customers during the liquidation process. possible as much as complete One way He stated that it was an important step for them to take:
We believe our liquidation plan is the fastest way for clients to acquire their cryptocurrency holdings with the highest recovery and to finalize chapter 11 cases as quickly as possible.
$1 billion remaining in FTX and Alameda Research
On the other hand, a recent report by the company on social media in the statementOne of the most important factors in the conclusion of the liquidation process in favor of the customers. FTX And Alameda research It was stated that his debts had a fate. BlockFi estimates the amount of the remaining assets in these two companies will be repaid by approx. 1 billion dollars stressed that it could increase
While recoveries will be based on a number of factors, the biggest driver of higher recoveries is the assets we will acquire by Alameda and FTX.
According to court documents, BlockFi’s approximate frozen in FTX 355 million dollar cryptocurrency and not yet paid on Alameda Research loan of $671 million exists.