Coinspeaker
Crypto Lender BlockFi Begins Shutdown, Asks Clients to Submit Withdrawal Request
Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked its wallet users to tender their withdrawal requests on its website to claim their funds. However, there is a December 31 deadline for the requests.
In the October 24 announcement, BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders.
However, part of its plans may also involve getting additional payments from companies that reportedly owe it too. Recall that BlockFi secured approval for its bankruptcy plan in September that would see it recover assets from other bankrupt crypto companies such as FTX exchange and now-defunct crypto hedge fund Three Arrows Capital (3AC). So, there is a fair chance that client recoveries
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