BlockFi Files Motion With Bankruptcy Court to Release Customer Funds

BlockFi Files Motion With Bankruptcy Court to Release Customer Funds

Withdrawals and transfers from BlockFi Interest Accounts will not be affected.
The bankruptcy court will conduct a hearing on January 9 to determine the result.
BlockFi, a defunct cryptocurrency lender, has filed a motion with the U.S. Bankruptcy Court seeking permission to release its customers’ cryptocurrency holdings in BlockFi Wallet Accounts. Withdrawals and transfers from BlockFi Interest Accounts will not be affected by this request, since they are currently suspended.
The lender, which filed for Chapter 11 bankruptcy protection in late November due to the FTX outbreak, described the decision as an “important step toward our goal of returning assets to clients through our chapter 11 cases” in a message to customers.
Hearing Scheduled Next Month
BlockFi International Ltd., the company’s international equivalent, filed a similar lawsuit with the Supreme Court of Bermuda about BlockFi Wallet Accounts. In addition, the corporation asked the court for permission to change the

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