Tethereum

Uncensored financial documents accidentally posted by bankrupt crypto lending company BlockFi reveal $1.2 billion in assets linked to the collapse of exchange FTX and Alameda Research.The previously redacted financials were revealed as part of a presentation prepared by M3 Partners, a creditor committee advisor who reportedly acknowledged the filing was posted mistakenly.<h2 id="header-0">Financial turmoil continues to plague BlockFi, from Terra to FTX</h2><a href="https://www.cnbc.com/2023/01/24/blockfi-secret-financials-show-1point2-billion-tie-to-ftx-and-alameda.html" rel="noopener noreferrer nofollow">CNBC reported</a> that the unredacted filings reveal that as of Jan. 14, BlockFi had $831.3 million in loans to Alameda and assets worth $415.9 million tied to FTX.While BlockFi has tried to distance itself from FTX and Alameda during the bankruptcy proceedings, the situation of financial obligations between the companies is unclear.On July 1, FTX.US — FTX’s US subsidiary — granted a $400 million line of credit to BlockFi after the lender became entangled in the contagion created by Terra’s algorithmic stablecoin’s collapse in May 2022.BlockFi also sued Sam Bankman-holding Fried’s company, Emergent Fidelity Technologies, for collateral that the firm had agreed to pay on Nov. 9, including shares in the online brokerage Robinhood.BlockFi filed for Chapter 11 bankruptcy on Nov. 28, <a href="https://micky.com.au/the-lowdown-on-blockfis-restructuring-plan-as-ftx-contagion-spreads/" rel="noopener noreferrer nofollow">blaming the FTX collapse</a> as the reason for its financial difficulties.

BlockFi mistakenly uploads unredacted financials revealing $1.2B exposure to FTX: Report

Table of Contents

TETHEREUM

Other articles published on Jan 25, 2023

SushiSwap Approves Two Key Proposals To Boost Treasury

This month in RsNano 01/2023

Total Value Locked

BTC Dropping to $19K Is Inevitable According to Analyst

Crypto News of the Day: Uniswap v3 may deploy on BNB Chain, Porsche receives backlash from first ...

Coinbase’s chief product officer is leaving with a $105Mn payout

Join our free newsletter for daily crypto updates!