According to the Odaily Planet Daily report, Lisk co-founder Max Kordek posted on the X platform that the Onchain Foundation (formerly the Lisk Foundation) recovered 44% (US$2.9 million) of funds from BlockFi. In 2021 and 2022, the Lisk Foundation placed a large amount of funds on BlockFi after conducting sufficient due diligence on BlockFi. When things started to get “weird,” the foundation tried to withdraw all the funds it could at the time (over $20 million), with the remaining $6.5 million locked up in a 12-month contract, BlockFi Unwilling to cooperate and allow them to withdraw funds in advance. However, BlockFi went bankrupt about two months before the Lisk Foundation was able to withdraw these funds. Kordek said the foundation has learned its lesson in diversifying the way it holds its funds and is now staking Ethereum for passive income and revenue streams built through its products, with the goal of becoming sustainable by 2026.
