BlockFi Borrower Says Predatory Loans Justify $10M Claim

By Clara Geoghegan · January 16, 2024, 7:34 PM EST

Former cryptocurrency platform BlockFi Inc. improperly cashed out collateralized digital assets, a creditor and former borrower told a New Jersey bankruptcy court on Tuesday, arguing his claims against the Chapter 11...

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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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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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