BlockFi Claims Collateral Sale Violated Ch. 11 Stay

By Rick Archer · August 9, 2023, 2:48 PM EDT

Cryptocurrency exchange BlockFi Inc. is asking a New Jersey bankruptcy judge to find a Chinese investment firm in contempt for selling off millions of dollars in crypto collateral days after BlockFi's...

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Bankruptcy Scorecard

Summary

Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy facing a liquidity crunch as digital asset prices plummeted and a "rescue loan" from FTX Trading fell through.

Case Number

3:22-bk-19361

Judge

Michael B. Kaplan

Venue

U.S. Bankruptcy Court for the District of New Jersey

Capital Structure

Total Liabilities:

$1 billion-$10 billion

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Documents

Related Sections

Case Information

Case Title

BlockFi Inc.

Case Number

3:22-bk-19361

Court

New Jersey

Nature of Suit

Date Filed

November 28, 2022

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