Crypto Biz: BlockFi emerges from bankruptcy, Worldcoin halts USDC payments and more
Cointelegraph
Published Oct 28, 2023 11:15AM ET
Updated Oct 28, 2023 01:00PM ET
Crypto lender BlockFi announced its emergence from insolvency this week, just a few days after FTX announced that it successfully reclaimed approximately $7 billion in assets. FTX debtors, comprising FTX and affiliates, estimate that $8.7 billion has been misappropriated from customers. BlockFi has lent FTX more than $650 million, making it one of the exchange’s largest creditors, which means its customers’ repayment success is tied to FTX’s ability to recover its assets.
FTX’s new management is also carefully considering its future options, including selling the entire exchange — which includes its extensive customer base of over nine million — or partnering with another entity to revive the exchange. The possibility of an independent comeback is also on the table.
h3 BlackRock’s spot Bitcoin ETF now listed on Nasdaq trade clearing firm — Bloomberg analyst/h3 h3 BlockFi emerges from bankruptcy and opens wallet withdrawals/h3 h3 Ledger hardware wallet rolls out cloud-based private key recovery tool/h3 h3 Worldcoin to cease paying Orb operators in USDC as early as November/h3Continue Reading on Cointelegraph
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Written By: Cointelegraph
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