BlockFi

The California Department of Financial Protection and Innovation (DFPI) has taken decisive action against BlockFi Lending LLC by revoking its California Financing Law license. This move comes in response to multiple violations identified by the regulatory body. What Happened: The regulatory agency...

FTX founder Sam Bankman-Fried on Friday denied defrauding investors of their funds and claimed he had genuinely thought he could build the best product on the market. Taking the stand on the second day of his ongoing trial, he was called to the stand by his lawyer Mark Cohen, and was...

As 2023 is almost ending, we're recapping some of the major crypto disasters of the last two years. With all of the regulatory changes that the crypto landscape is witnessing, 2024 is likely to see a stronger framework for companies. However, U.S. markets appear to be seeing...

Liquidators from Three Arrows Capital are intensifying their efforts to recoup approximately $1.3 billion from the company’s co-founders, Su Zhu and Kyle Davies. This figure represents the losses allegedly incurred by the duo in the lead-up to the firm's downfall, as per an anonymous...

The U.S. Securities and Exchange Commission (SEC) consented to defer the collection of a $30 million fine from the insolvent crypto lending platform BlockFi until such time as the investors have been reimbursed. What Happened: Initially, BlockFi was under obligation to pay a $50 million penalty to...

The five major crypto firms that collapsed last year — FTX, Celsius, Voyager, BlockFi and Genesis — did so because they offered customers instant withdrawals while their assets were locked inside illiquid, risky investments in an attempt to generate unsustainable yields. And because...

Tensions have escalated between the BlockFi Creditors Committee and the beleaguered digital asset lender's management, with the former rebuffing BlockFi's assertion that it fell victim to FTX and Alameda Research while characterizing this as a "misleading narrative....

BlockFi clients can expect the return of almost $300 million held in custodial wallets, following a decision by New Jersey Bankruptcy Judge Michael Kaplan Thursday.  He ruled that these assets belong to the customers and not the bankrupt crypto lender's estate, Coindesk reported. Kaplan...

A recent survey by Goldman Sachs' institutional family office investors reveals a significant decline in interest in cryptocurrencies among the wealthy elite, largely due to the extreme market volatility witnessed over the past year. According to the survey, the percentage of family...

Crypto companies and investors are among those impacted by the latest collapse of Silicon Valley Bank (NASDAQ: SIVB), which has sent tech start-ups that once relied on the bank into turmoil. Following news of the bank's demise on Friday, Crypto firm Circle, which has $3.3 billion...

New York Attorney General Letitia James filed a lawsuit Thursday against KuCoin, a virtual currency trading platform, for allegedly operating without proper licensure and registration as a securities and commodities broker-dealer. The lawsuit argues that Ether (CRYPTO: ETH), one of the largest...

After filing for bankruptcy protection in November 2022, BlockFi has been granted the release of almost $9.9 million from Silvergate Capital Corp (NYSE: SI) by a U.S. bankruptcy judge. The bank had initially "reevaluated its business," which resulted in a number of companies ending their...

Enterprise-software company MicroStrategy Inc (NASDAQ: MSTR), the largest publicly traded Bitcoin (CRYPTO: BTC) holder, might consider participating in futures contracts on CME Group's marketplace to generate yield, according to Michael Saylor, MicroStrategy's co-...

Emergent Fidelity Technologies, the offshore entity that holds 55 million shares of Robinhood Markets Inc (NASDAQ: HOOD), filed for bankruptcy on Friday, as multiple parties try to claim ownership of the stock, Bloomberg reported. The value of the Robinhood shares is estimated to be over $590...

BlockFi, the bankrupt cryptocurrency lending firm, has inadvertently revealed financials indicating $1.2 billion in assets tied up with the embattled FTX and Alameda Research. What Happened: According to a report from CNBC, filings that had previously been redacted but were mistakenly uploaded on...