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The company, headquartered on Montgomery Street in Jersey City, in a statement said it will "focus on recovering all obligations owed to BlockFi by its counterparties," including the now-bankrupt Bahamian cryptocurrency exchange. BlockFi also said it expects a delay in recoveries from FTX.
BlockFi indicated in the filing it had between $1 and $10 billion in liabilities and assets with more than 100,000 creditors, CNBC said citing the filing. It also noted an outstanding $275 million loan to FTX.
“With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the Company,” said Mark Renzi of Berkeley Research Group, the Company’s financial advisor.
“From inception, BlockFi has worked to positively shape the cryptocurrency industry and advance the sector. BlockFi looks forward to a transparent process that achieves the best outcome for all clients and other stakeholders.”
Click here for the complete BlockFi release.
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