24.1 C
New Delhi
Monday, November 4, 2024
HomeTechCrypto lender BlockFi emerges from bankruptcy

Crypto lender BlockFi emerges from bankruptcy



Cryptocurrency lender BlockFi emerged from bankruptcy on Tuesday, clearing the way to repay its creditors 11 months after it went belly up.


The development closes one of many bankruptcies the crypto industry saw since last year, in what has been one of the most challenging periods for the sector.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
MIT MIT Technology Leadership and Innovation Visit
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
IIM Kozhikode IIMK Advanced Data Science For Managers Visit

In its bankruptcy filing in November last year, BlockFi had cited its loans to FTX‘s sister firm Alameda as one of the reasons for the crisis it was facing.

On Tuesday, the company said it would officially begin enacting the actions detailed in its bankruptcy plan, like recovering assets it believes are owed to it by FTX, Three Arrows Capital and others.

It will also continue distributing digital assets back to clients, it said.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.



Source link

- Advertisment -

YOU MAY ALSO LIKE..

Our Archieves