BlockFi used customer money to buy $30M insurance, creditors claim By Cointelegraph
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Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.
On May 12, BlockFi outlined its Chapter 11 reorganization plan in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors, as it owes nearly $1.3 billion to its top 50 creditors.
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Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.
On May 12, BlockFi outlined its Chapter 11 reorganization plan in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors, as it owes nearly $1.3 billion to its top 50 creditors.
Continue Reading on Coin Telegraph
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