BlockFi Has $355 Million In Cryptocurrency Remaining In FTX

Cryptocurrency lending platform BlockFi’s approximately $355 million worth of cryptocurrencies are stuck in FTX.

BlockFi, which stopped withdrawals on the platform at the beginning of this month, officially filed for bankruptcy the other day.

According to the statements made by attorney Joshua Sussberg in court, the company has $355 million in cryptocurrencies frozen on the FTX exchange.

According to the information BlockFi shared with the court, the total value of the company’s assets is between 1 and 10 billion dollars; The total value of its liabilities is between $1 and $10 billion.

The company also has $257 million in cash, some of which was raised by selling cryptocurrencies.

According to Sussberg’s statements in court, BlockFi’s getting their money back in FTX, “it may take a long time.”

BlockFi management also hopes to reopen users’ withdrawals.

source site-9