Bankrupt crypto loan company BlockFi has provided transparency on the bankruptcy process by sharing asset and liability statement documents with the public. In the published documents, it was seen that some executives were given serious raises within the scope of the “retention program”.
Documents submitted by BlockFi on January 12 included financial information on the process until the company filed for Chapter 11 bankruptcy protection. Documents made public are due to senior management’s loan agreement with FTX. lost $800 million in equity revealed. BlockFi CEO and founder Zac Prince It took the biggest hit with a loss of $412 million. But then the salaries of senior executives were almost to compensate for this situation. Up to $500,000 raise done.
On the other hand, according to the documents revealing the assets of senior executives, CEO Prince, as of November 21, 2022, $1.4 million He had the most important deposit among the management team. Financial manager of the firm Amit Cheela‘s on BlockFi $292,000 while there is Flori Marquez on the platform $109,000 was holding.
As it will be remembered, BlockFi claimed that company officials did not make any withdrawals before and after the bankruptcy, and stated that the entire financial statement will be published soon.
In the documents submitted pursuant to this declaration, 14 OctoberIt has not withdrawn any crypto money from the platform since , and 17 Augustthroughout the process after 0.2 BTCIt has been proven that he did not make a large withdrawal from . Also released reports show that the management team’s withdrawals will exceed the total volume in 2022. 0.15%He proved that he represents