BlockFi, the crypto lending platform that faced bankruptcy following a tumultuous period, is back on its feet and ready to fulfill its obligations to its creditors.
BlockFi Announces Wind Down
On Tuesday, BlockFi emerged from bankruptcy, announcing its intent to commence the gradual cessation of operations and the gradual return of crypto assets to its customers. This comes 11 months after the platform was impacted by the cryptocurrency industry’s upheaval triggered by FTX’s collapse. It also means that the platform will finally be able to initiate the retrieval of assets from entities that owe it funds, such as Three Arrows Capital (3AC) and FTX.
As per the latest information provided in an Oct. 24 blog post, the company has announced that withdrawals are now available to the majority of its Wallet customers. The team has issued specific instructions to Wallet customers who wish to access their assets. To facilitate withdrawals, customers are advised to log in to the BlockFi app a
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