{"id":80173,"date":"2023-06-13T18:39:34","date_gmt":"2023-06-13T15:39:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80173"},"modified":"2025-09-11T15:14:57","modified_gmt":"2025-09-11T12:14:57","slug":"blockfi-eyes-summer-resumption-of-client-withdrawals","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blockfi-eyes-summer-resumption-of-client-withdrawals\/","title":{"rendered":"BlockFi eyes summer resumption of client withdrawals"},"content":{"rendered":"

The crypto-lending platform BlockFi expects to complete testing to open, this summer, the possibility for some clients to withdraw funds. The Block<\/a> reports.<\/p>\n

\n

\u201cSoon we will allow withdrawals of digital assets from BlockFi Wallet accounts that are not subject to creditors’ priority claims,\u201d<\/em> \u2014 the letter to clients says.<\/p>\n<\/blockquote>\n

Payouts will be made in batches. Those eligible will receive a special notification from the platform.<\/p>\n

BlockFi advised users to create external wallets to carry out such withdrawals.<\/p>\n

11 November 2022 the company suspended withdrawals<\/a>, citing the FTX and Alameda Research crisis. A few days earlier, founder Flori Marquez assured<\/a> that all of the company’s products were operating, and that the business did not depend on the firms of Sam Bankman-Fried<\/a>.<\/p>\n

28 November BlockFi and eight subsidiary structures filed for bankruptcy<\/a> in accordance with Chapter 11 of the United States Bankruptcy Code<\/a>.<\/p>\n

Earlier, in May 2023, a court allowed the company to return $300m<\/a> to clients whose assets are held in custody accounts. The court did not classify this amount as the platform’s property.<\/p>\n

Subsequently, management announced a planned liquidation<\/a> of the platform following the failed sale.<\/p>\n

The amount of redress to clients largely depends on the outcome of ongoing proceedings against the collapsed cryptocurrency exchange FTX<\/a> and Alameda Research, as well as the bankrupt hedge fund Three Arrows Capital<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto-lending platform BlockFi expects to complete testing to allow some clients to withdraw funds this summer.<\/p>\n","protected":false},"author":1,"featured_media":80174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,83],"class_list":["post-80173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-business"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80173"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80173\/revisions"}],"predecessor-version":[{"id":80175,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80173\/revisions\/80175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80174"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}