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Bankrupt BlockFi Has $355 Million in Crypto Locked in FTX

Mary Liu

Summary: According to Coindesk, Kirkland & Ellis partner lawyer Joshua Sussberg said in a bankruptcy court in New Jersey that BlockFi, which has filed for bankruptcy protection, currently freezes about $355 million in cryptocurrencies on the FTX. This amount does not include a $671 million loan to Alameda Research. FTX, once valued at $32 billion, filed ...

According to Coindesk, Kirkland & Ellis partner lawyer Joshua Sussberg said in a bankruptcy court in New Jersey that BlockFi, which has filed for bankruptcy protection, currently freezes about $355 million in cryptocurrencies on the FTX. This amount does not include a $671 million loan to Alameda Research.

FTX, once valued at $32 billion, filed for Chapter 11 bankruptcy in Delaware earlier this month. The firm lent BlockFi $275 million earlier this year and was listed as BlockFi’s second-largest creditor in the bankruptcy filing.

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