BlockFi

11/29/2022

Earlier today, BlockFi’s First Day Chapter 11 Hearing was held. We reiterated our singular focus: maximizing value for all clients and other stakeholders.

We look forward to engaging with the Official Committee of Unsecured Creditors, which we expect will be made up primarily of our clients, when it is formed shortly.

The Court agreed to, on an interim basis, allow us to redact the names, addresses and contact information of individuals and clients from the list of our fifty largest creditors, which we will submit to the Court.

Client privacy is a focus during our cases, and we intend to continue to take action towards protecting client information.

As part of our presentation in Court, we also expressed our intention to request approval from the Court to restore withdrawal activities for BlockFi Wallet accounts.

Our next hearing is currently scheduled for January 9, 2023 at 10:00 EST. Information regarding cases, including court documents and claim information on an ongoing basis, can be found by visiting BlockFi’s claims agent Kroll at:

Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. You may unsubscribe by clicking the “Unsubscribe” link at th...

11/28/2022

Today, BlockFi filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.

https://www.businesswire.com/news/home/20221128005451/en/BlockFi-Commences-Restructuring-Proceeding-to-Stabilize-Business-and-Maximize-Value-for-all-Clients-and-Stakeholders

Maximizing value for all clients and other stakeholders is our priority. This process will help BlockFi to stabilize our business and provide us with the opportunity to work towards consummating a comprehensive restructuring transaction to maximize value.

As part of our restructuring efforts, we will focus on recovering all obligations owed to BlockFi by counterparties, including FTX.

Acting in the best interest of our clients is our top focus and continues to guide our path forward. Chapter 11 is a transparent process and we will continue to communicate with our clients to ensure they hear directly from us.

Additional information about our filing can be found on our blog: https://blockfi.com/November28-ClientUpdate

BlockFi Inc. and eight of its affiliates (“BlockFi” or “the Company”) today commenced voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in

06/14/2022

Four new assets from smart contract platforms are available to trade through BlockFi International.

Non-US clients can now buy, sell, and earn up to 12% APY on $HBAR, $LRC, $OMG, and $XTZ.*

These assets will not be offered in the US or to US clients at this time.

See introductory rates and more details here: https://spr.ly/6180zjy6y

*BIAs are intended only for non-US persons.

Read for important details: https://spr.ly/6182zjy6K

06/13/2022

To address concerns raised due to the actions of other platforms in our industry, we wanted to share the following:

1) BlockFi has no exposure to Celsius and we have never worked with them as a partner.

2) BlockFi does not hold any stETH principally or as collateral.

3) BlockFi announced its intention to file or confidentially submit a draft registration statement on Form S-1 with the SEC relating to the offering of BlockFi Yield, a new crypto interest-bearing security that would be available to our US clients. https://spr.ly/6187zbgyz

4) For more information on BlockFi’s loan balances, please see this article, which is updated quarterly: https://help.blockfi.com/hc/en-us/articles/7015347407764-What-happens-to-my-assets-after-they-are-transferred-to-BlockFi-and-how-does-BlockFi-manage-related-risks-

5) For more information on how BlockFi manages risk and security, please see this article: https://spr.ly/6186zbgyp

We continue to operate in our risk management framework allowing all products & services to operate normally. Clients continue to receive the same great service they have come to expect from BlockFi.

For further questions, contact our Client Service team: https://spr.ly/6180zbgyk

05/05/2022

14 new assets are now available to trade for non-US clients.

Non-US clients can buy, sell, and earn up to 7% APY* on $NEAR, $LUNA, $AAVE, $BNB, and more.

These assets will not be offered in the US or to US clients at this time.

See introductory rates and more details here: https://spr.ly/6185zEQmR

*BIAs are intended only for non-US persons.
Click here for important details: https://spr.ly/6186zEQmr

05/03/2022

Before the BlockFi Rewards Credit Card, earning crypto back on every purchase was just an idea.

A world-changing idea.

Today, Fast Company recognized it as such.

The received an honorable mention for the 2022 World Changing Ideas Awards!

Thank you to every member of our community for believing in it.

See the full list: https://spr.ly/6182zD2nq

See the full list of honorees of Fast Company’s 2022 World Changing Ideas Awards in the on-the-rise (0-4 years in business) category.

04/21/2022

Today, we’re taking a deep dive into what affects our rates for the BlockFi Interest Account (BIA).*

Transparency is a core principle for us, and we believe this article will better inform you on what makes our rates go up or down.

As the digital assets space evolves, we aim to keep you informed on how we operate. We’ll continue to build and publish educational resources for you as we uphold this principle.

Read more: https://spr.ly/6186K7uoK

*BIAs are intended only for non-US Persons. Click here for important details: https://spr.ly/6188K7uoM

In this post, we explain how BlockFi sets crypto interest rates for the BlockFi Interest Account (BIA), what influences the rates, and a couple of real-life scenarios.

02/14/2022

U.S. clients are no longer able to sign up for or transfer funds to the BlockFi Interest Account.

Click here for more information:

BlockFi Enters Landmark Resolution with Federal and State Regulators Providing Clarity on Pathway for Crypto Interest Securities. Learn More.