As per court filings, the FTX loan has swept away $800M in BlockFi executive equity.
The filing details the effects of a June FTX loan on 13 BlockFi executives.
BlockFi, a cryptocurrency lender, has revealed its revenue figures. The filing describes the consequences of an FTX loan in June on 13 BlockFi executives. BlockFi’s equity interests were wiped out by a total of $800 million as a result of the loan.
A statement of financial affairs released by the crypto lender comprises thousands of pages describing transactions that occurred in the run-up to its collapse. And with gross revenue of more than $4 million for 2022 until its demise on Nov 28.
BlockFi lawyer to New Jersey Bankruptcy court filings says that
“Because of the huge impact of the FTX deal on management equity, the BlockFi board of directors increased base salary and made retention rewards to those who remained in order to maintain business. -critical knowledge and capabilities”
According to the filings, founder
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