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BlockFi Will Seek $680 Million From FTX’s Alameda, Lawyer Says

  • BlockFi claims Alameda defaulted on collateralized Loans
  • Company says it will return money to customers’ crypto wallets
Bloomberg business news
BlockFi to Seek $680M From FTX’s Alameda
Updated on

Bankrupt cryptocurrency lender BlockFi Inc. will try to collect about $680 million it is owed by a part of Sam Bankman-Fried’s failed crypto empire, a lawyer told the federal judge overseeing BlockFi’s insolvency case.

The company made its first appearance in bankruptcy court in Trenton, New Jersey, on Tuesday, seeking routine approval to keep operating while it tries to develop a plan to repay creditors owed more $1 billion by reorganizing or finding a buyer.