BlockFi was a crypto lending platform that filed for bankruptcy in November due to the FTX contagion.
Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the postBlockFi is pleased to announce that its bankruptcy plan is effective and the company has emerged from bankruptcy as of October 24, 2023 .
The team instructed Wallet customers with assets on BlockFi to log into the app and submit a withdrawal request, which will allow the team to process the withdrawal. As for BIA and Loan customers, BlockFi said it's preparing for initial distributions in accordance with the bankruptcy plan. They expect the first distributions to be made in early 2024.
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