Usa United States business FTX Court Bankruptcy Usa United States

Breaking: BlockFi uncensored financials reportedly shows $1.2B FTX exposure

Reading now: 615
cointelegraph.com

Bankrupt crypto lending firm BlockFi has reportedly uploaded uncensored financials by mistake, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and its related trading firm Alameda Research.According to a Jan.

24 report from CNBC, the unredacted filings show that as of Jan. 14, BlockFi had $415.9 million worth of assets linked to FTX and a whopping $831.3 million in loans to Alameda.The previously censored financials were leaked as part of a presentation put together by M3 Partners, who is an advisor to the creditor committee and has reportedly admitted the filing was uploaded in error.The correctly redacted Nov.

24 declaration relates to the creditor committee's objection that BlockFi is seeking to pay key employees $12.3 million in retention payments despite their limited operations and assets.According to a subsequent filing, the redacted portions include "trade secret[s] or confidential research, development, or commercial information."On Nov.

29, during the first-day hearing of its bankruptcy proceedings, BlockFi's lawyers said the figures were $355 million stuck on FTX and $680 in loans to Alameda, but the value of the funds has increased with the price of Bitcoin (BTC) since then.While BlockFi has attempted to separate itself from FTX and Alameda throughout its bankruptcy proceedings the state of financial obligations between the firms is complicated.On Jul.

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA