BlockFi Trying To Return Frozen Fund To Wallet Users

BlockFi, a defunct cryptocurrency lending platform, has asked a bankruptcy court in the United States for permission to its users to withdraw digital assets from their BlockFi wallets. According to court records, a division of the Bermuda-based company is BlockFi International. A hearing is scheduled for January 9 to determine if the request will be granted. The Supreme Court of Bermuda will hear a case involving wallet accounts kept at BlockFi International Ltd. On January 13, the court records indicate that the company intends to ask Bermuda’s Supreme Court to grant similar relief in relation BlockFi Wallet Accounts held at BlockFi International Ltd. On November 11, the cryptocurrency lender frozen customer withdrawals and asked customers to refrain from depositing to BlockFi wallets or Interest Accounts. The company filed for Chapter 11 bankruptcy on November 28. BlockFi International filed for bankruptcy on the same day with the Supreme Court of Bermuda. The market is still influenced by FTX to this day. As Coincu reported, DEX protocol for the Aptos ecosystem due to the effects of the FTX crash, the loss of project money that were in FTX’s control, and the loss of Alameda as the team’s market maker, Mojito Markets declared that the whole team has optional to halt protocol development.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comHaroldCoincu NewsTags: BlockFiBlockFi InternationalFTXSupreme Court of Bermuda