Crypto lender BlockFi escaped bankruptcy last summer after FTX issued a $400 million loan. Now, however, the platform has once again had to stop recordings.
Many uncertainties surrounding FTX
Due to a lot of ambiguities about the status of the crypto exchange FTX in recent days, BlockFi asked all its customers to stop making deposits to their BlockFi wallets. About this they said the following:
We are unable to conduct business as usual… Until further clarity, we are restricting platform activity, including pausing customer withdrawals.
Earlier this week, FTX stopped all of its withdrawals and the crypto exchange faced possible bankruptcy. Sam Bankman-Fried, the CEO of FTX, quickly apologized. Earlier today it became clear that FTX would have resumed its recordings. The exchange may be saved from bankruptcy here.
BlockFi previously saved by FTX
BlockFi was previously rescued by FTX founder Bankman-Fried. Meanwhile, another cryptocurrency lender tried to stay out of bankruptcy with a $500 million loan from its other company, Alameda Research. However, this turned out to be unsuccessful. Yesterday, FTX said that no deal had yet been struck to take possession of its assets. Voyager Digital’s unsecured creditors’ committee finally tweeted:
The FTX/Voyager transaction was not completed. Voyager has not transferred any crypto or other assets to FTX in connection with the transaction. The UCC will take all necessary steps to protect the interests of creditors
That is, trying to prevent the assets that investors have recovered in their own bankruptcy from getting entangled in a possible bankruptcy of FTX.
