BlockFi-bestanden voor faillissement

• BlockFi is de SEC nog steeds $30 miljoen verschuldigd, waarmee de SEC de op drie na grootste schuldeiser is.
•  BlockFi also owes $275 million to West Realm Shires.
• De cryptogeldschieter sluit zich aan bij FTX, Voyager en Celsius om faillissement aan te vragen.

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Crypto-geldschieter BlockFi is toegetreden tot de lijst van blockchain-platforms om faillissement aan te vragen in wat een turbulent jaar is geweest voor de bredere cryptomarkt. BlockFi maakte maandag bekend van wel gearchiveerd for Chapter 11 bankruptcy along with eight affiliates. The company made the filing in a New Jersey court as crypto prices continue to decline.

BlockFi’s decision comes as no surprise to many. The company’s future has been in doubt since FTX filed for bankruptcy. In its court filing, the bankrupt lender listed FTX as its second-largest creditor. BlockFi was one of the crypto platforms that rose to prominence during the last bull run. The platform claimed that it had more than 450,000 retail customers in 2021.

The crypto lender promoted itself particularly to small investors, providing them with accounts that paid high interest on cryptocurrency deposits as well as quick loans backed by cryptocurrencies without credit checks. BlockFi’s collapse raises huge concerns about the crypto industry where companies are so linked that even a small shake can cause financial havoc.

Verschillende cryptocurrency-bedrijven, waaronder FTX en BlockFi, zijn de afgelopen maanden failliet verklaard. Celsius Network en Voyager Digital hebben in juli binnen een week na elkaar faillissement aangevraagd. Beide platforms waren het slachtoffer van een grote marktpaniek waarbij de waarde van veel bekende cryptocurrencies naar nieuwe dieptepunten crashte. Zowel Celsius als Voyager hadden moeite om weer op het goede spoor te komen. 

BlockFi has struggled for stability since then and reached an agreement with FTX in June to secure itself. The deal with FTX was considered a safety net for the lender given that FTX held the market as one of the key players. FTX offered to provide BlockFi with a $400 million credit line, which the lender could use as needed.

BlockFi, in its bankruptcy filing, said it had $257 million in cash on hand to help it keep going during the bankruptcy. In court documents, the crypto lender claimed to have more than 100,000 creditors and $10 billion in assets and liabilities. Additionally, it promised to drastically cut costs overall, including labour. 

BlockFi also said that it would concentrate on collecting any obligations owed to it, including those owed by FTX. However, given FTX’s bankruptcy, BlockFi warned of possible delays in recouping assets from the exchange.

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