Prince's BlockFi became a symbol of crypto’s lending boom and bust, offering interest-bearing accounts, before collapsing when FTX’s failure left it short of liquidity.
With a May 15 deadline looming, just 43% of non-U.S. customers have claimed their distributions.
Former CFTC Acting Chair Chris Giancarlo said he’s “already cleaned up earlier Gary Gensler mess,” shooting down speculation he’d replace the SEC Chair.
Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.
"This transaction marks a final chapter in the wind-down and is the best possible outcome for customers of BlockFi," said Mohsin Y. Meghji, Plan Administrator of BlockFi Inc.
Bankrupt crypto lender BlockFi will commence first interim crypto distributions through Coinbase in July 2024, it announced on Thursday.
BlockFi, a centralized crypto lender, recently shut down its web platform and selected Coinbase as its distribution partner for customer fund withdrawals. The move comes as BlockFi aims to ensure a swift transition for eligible customers following the closure of its platform. BlockFi Selects Coinbase As Exclusive Partner According to the company’s press release on […]
Prince says he considered starting a new company in the crypto space, but wants something with a regular work week and lacks the octane and volatility of the industry.
The settlement with FTX and Alameda Research is a key part of BlockFi's bankruptcy and reorganization plan.