BlockFi Emerges from Bankruptcy and Opens Withdrawals for Global Users

BlockFi Emerges from Bankruptcy and Opens Withdrawals for Global Users



BlockFi has revealed that withdrawal requests are now open for both domestic and global users. On October 24, a blog post confirmed that BlockFi, a crypto lending entity, has successfully navigated its way out of bankruptcy and is poised to repay some of its debtors. The post clarified that most Wallet clients can presently withdraw their funds, with BlockFi Interest Account (BIA) and Loan customers anticipated to gain similar access in early 2024.



Emerging from bankruptcy positions BlockFi to reclaim assets from businesses it deems in debt to them, such as bankrupt crypto entities like Three Arrows Capital ("3AC") and FTX. Additionally, this progress allows the firm to keep disbursing funds to its creditors and to manage claims.



Wallet users holding assets on BlockFi have been advised to use the app for withdrawal requests,


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#Blockchain, #BlockFi, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News

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