BlockFi Appeals to Creditors to Come Forward and Claim Bankruptcy Distributions
With a May 15 deadline looming, just 43% of non-U.S. customers have claimed their distributions.
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With a May 15 deadline looming, just 43% of non-U.S. customers have claimed their distributions.
Bankrupt crypto lender BlockFi will commence first interim crypto distributions through Coinbase in July 2024, it announced on Thursday.
The settlement with FTX and Alameda Research is a key part of BlockFi’s bankruptcy and reorganization plan.
BlockFi advertisement in Washington D.C.’s Union Station (CoinDesk archives)
A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies.
The crypto lender saw “the exact same balance sheet” later published by CoinDesk but still put clients’ money in Sam Bankman-Fried’s companies, a scathing new report claims.
A July 7 report from Teneo, the hedge fund’s liquidator, described the potential claims.