2024

BlockFi, a Crypto lender facing liquidation, just announced it will join forces with Coinbase via a partnership to allow for crypto withdrawal of eligible clients as part of its bankruptcy proceeding. BlockFi web platform will no longer be available anymore from May 2024. The exact date of operation ending will be communicated soon. 
This program lays out a process for users who didn’t withdraw their crypto by 28th April, 2024 or didn’t complete identity verification by 10th May, 2024.Instead of having their crypto liquidated to cash, these clients will have their holdings transferred to Coinbase.&nbsp; 
For clients to cash-out their crypto with Coinbase, they can either create a new Coinbase account if they do not have one, or they can use their existing one instead. If clients miss deadlines or don’t have a Coinbase account set up, they will be paid in cash instead. 
The <a href="https://blockfi.com/blockfi-coinbase-distribution-partnership/" data-type="link" data-id="https://blockfi.com/blockfi-coinbase-distribution-partnership/" target="_blank" rel="noopener">partnership</a> between BlockFi and Coinbase enables clients to access their crypto holdings despite the platform shutdown. BlockFi absolves itself of any responsibility over scams by simply pointing out to the users that BlockFi is not having partnership with any other crypto platforms. 
Also Read:<a href="https://www.cryptotimes.io/2024/05/10/taiwan-cracks-down-on-crypto-with-jail-terms-for-aml-violations/">Taiwan Cracks Down on Crypto with Jail Terms for AML Violations</a>

BlockFi Partners with Coinbase for Client Crypto Withdrawals

The Crypto Times

Other articles published on May 10, 2024

Is It Too Late To Buy RNDR? Render Price Pumps 12% After Apple Mentions Octane And This Might Be ...

Address Error Results in $68 Million WBTC Loss, Victim Falls to Phishing Scam

BlockFi Announces Platform Shutdown Amid Crypto Lending Struggles

‘This One Is Going To Be a Banger’: Low-Cap Altcoin Flashing Bullish Signal, According to Top Cry...

Jack Dorsey Says Bitcoin’s Price Will Hit At Least $1 Million By 2030

BlockDAG Captures Global Spotlight with Piccadilly Circus Promotion Following CoinMarketCap Listi...

Join our free newsletter for daily crypto updates!