The U.S. Securities and Exchange Commission (SEC) has agreed to forego a $30 million fine from bankrupt crypto lender BlockFi until after investors are repaid, a court filing from Thursday shows. The sum is what’s left over from a $50 million penalty owed to the SEC by BlockFi to settle charges of failing to register with the regulator for the…
BlockFi Inc. customers who tried to reclaim nearly $300 million in crypto after the company froze transfers last year don’t have a right to the digital assets, a judge ruled, handing potential losses to investors who held interest-bearing accounts. US Bankruptcy Judge Michael Kaplan sided with the company and dismissed the objections of a group of customers, who argued they…
The Securities and Exchange Commission will most likely to be the first to get paid in the lineup of creditors crypto exchange BlockFi owes money to, Sasha Hodder, founder of Hodder Law, a firm that specializes in crypto law, said Tuesday. Hodder told CoinDesk TV’s “First Mover” the regulator is “in line, in front of retail creditors.” “The customers are…
The US Securities and Exchange Commission is one of the largest creditors to BlockFi, which filed for bankruptcy in the wake of a number of failures within the digital-assets space. The regulator has a $30 million unsecured claim against the crypto lender, according to a filing Monday. That makes it BlockFi’s fourth-biggest creditor, behind Ankura Trust Company, which is listed…
Crypto exchange FTX is close to signing a deal to purchase struggling crypto lender BlockFi for $25 million, according to a person familiar with the matter. The news was first reported by CNBC. The deal is expected to be signed by the end of the week, the person familiar with the matter told CoinDesk. Source: FTX Close to Buying BlockFi…