BlockFi will begin distributing assets through Coinbase in July to users who previously “failed to withdraw their coins in time”

According to BlockBeats, on July 18, BlockFi announced that it will start the first temporary distribution of crypto assets through Coinbase in July. The complete distribution process will be processed in batches in the next few months, and eligible customers will receive notifications via BlockFi account emails. Due to applicable regulatory requirements, non-US customers are currently unable to receive funds.

BlockBeats previously reported that the bankrupt crypto CeFi platform BlockFi closed and stopped withdrawals in May this year. Assets that failed to be withdrawn in time will not be liquidated into cash, but will be provided in physical form. If the user creates or has an open and approved Coinbase account, they can withdraw from Coinbase thereafter.