In a significant development, US Bankruptcy Judge Michael Kaplan has made a ruling to lift the stay suit, enabling the resumption of trial proceedings in the ongoing legal dispute between cryptocurrency lender BlockFi and failed crypto exchange FTX. According to recent reports, the decision paves the way for BlockFi and …
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An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology. The legitimacy of Luxor’s hashrate-backed product was highlighted in …
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Crypto lender BlockFi announced its emergence from insolvency this week, just a few days after FTX announced that it successfully reclaimed approximately $7 billion in assets. FTX debtors, comprising FTX and affiliates, estimate that $8.7 billion has been misappropriated from customers. BlockFi has lent FTX more than $650 million, making …
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A judge has approved repayment for BlockFi custodial wallet holders but said interest-bearing funds still belong to the bankrupt company. BlockFi custodial wallet users could receive a massive $300 million repayment from the bankrupt digital asset lender. On Thursday, a New Jersey judge ruled that the assets locked in BlockFi’s …
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Christine Okike stated BlockFi stays secure and seemed to entry important money held with Silicon Valley Financial institution yesterday. Regardless of the Silicon Financial institution publicity, a BlockFi chapter lawyer maintains that the digital asset lender is safe and in no quick hazard. The lawyer, Christine Okike, said that the embattled New …
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High Tales This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed cash by the bankrupt cryptocurrency change FTX has been launched, revealing a variety of worldwide firms. Among the many potential collectors are airways, inns, charities, banks, enterprise capital …
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BlockFi brand displayed on a telephone display screen and illustration of cryptocurrencies are seen on this illustration picture taken in Krakow, Poland on November 14, 2022. Jakub Porzycki | Nurphoto | Getty Pictures Bankrupt crypto lender BlockFi had over $1.2 billion in property tied up with Sam Bankman-Fried’s FTX and …
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“Contagion” is the preferred phrase in crypto after the disastrous fallout of the previous 12 months. And dominos maintain falling as traders painfully notice how intently intertwined all the cryptocurrency {industry} is. Tons of of billions of {dollars} had been incinerated. And bitcoin mining firms haven’t fully averted this. Actually, …
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