After MtGox, BlockFi also starts crypto payments
BlockFi company, which was negatively affected by the crypto crises in 2022 and opened the bankruptcy flag twice, will start the payments it will make to its customers who are victims this month.
Payments of up to $875 million in the first place will only be made to US citizens.
In the summer of 2022, the BlockFi company, which first went bankrupt with the Terra LUNA crisis, but then went bankrupt again with the collapse of this exchange while waiting to go straight with the support provided by FTX, is starting payments like MtGox.
It will be done gradually
The crypto loan company will start paying its victimized U.S. customers through the Coinbase exchange.
The payments, which will spread over the coming months and will be made gradually, will also reduce the selling pressure on the market. Due to regulatory rules, payments will not be made 'for now' to non-U.S. citizens.
With Coinbase, only crypto...
BlockFi made a 1-year deal with Coinbase for payments in May. Rightful creditors will be able to see their cryptocurrencies in their Coinbase accounts, which have likewise been KYC verified. Cash payments will not be made by Coinbase exchange. Fiat money payments will be made through the Kroll company and its payment partner, Digital Disbursements.
There are more than 100 thousand creditors
The company will make the current payments to more than 10,000 creditors. However, the number of customers to be paid globally exceeds 100 thousand. Payments include assets worth $875 million from FTX and Alameda. In fact, most of the current payment amount is already assets obtained through FTX-Alameda.
The total figure, on the other hand, can reach 10 billion dollars according to the lawsuits filed and their results.
