BlockFi Emerge from Bankruptcy, Enables Withdrawals and Traces Debts

Emerging from Bankruptcy, BlockFi Enables Withdrawal  

BlockFi, a crypto lending platform faced bankruptcy due to the Terra stablecoin collapse and FTX's subsequent bankruptcy, has emerged from its financial troubles. BlockFi announced that withdrawals are now available to most Wallet customers in a recent blog post. They plan to initiate asset withdrawals for BlockFi Interest Account (BIA) and Loan customers in early 2024. This allows BlockFi the opportunity to seek repayment of owned assets from companies, such as Three Arrows Capital and FTX. International users can currently withdraw from BlockFi. US customers will have to wait until early 2024, depending on the outcome of the FTX bankruptcy lawsuit.