US Bankruptcy Court Grants Approval For Sale Of BlockFi’s $4.7 Million In Assets

AZCoinNews · 2023-03-26T02:02:38.000Z

BlockFi, a cryptocurrency asset lending platform that filed for bankruptcy in November last year, has received approval from a New Jersey bankruptcy court to sell its assets to US Farms for approximately $4.7 million. The sale includes BlockFi’s coin miners. Voluntary bankruptcy, under Section 11 of the U.S. Bankruptcy Act, is a method for companies to rebuild by reducing their debts while continuing business operations. In this case, BlockFi is selling its assets to maximize recovery for its creditors during its voluntary bankruptcy proceedings. The sale of BlockFi’s assets, including the mining machines, was approved by the bankruptcy court on January 30, 2023. The court deemed the sale plan fair, reasonable, and appropriate to recover the business and maximize the realizable value for the company. BlockFi has put up a total of 68,000 bitcoin miners as guarantees for the bond, and there is a possibility that the drop in mining machine prices may lead to a lack of collateral for BitFi creditors. BlockFi is currently in the process of selling loans worth $155 million. However, the company has temporarily suspended its proceedings until the criminal case of Sam Bankman Fried, former CEO of FTX, is concluded. The US prosecutors are concerned that a Robinhood stock ownership lawsuit could impact the criminal proceedings against SBF. BlockFi’s decision to sell its assets and restructure its debts through voluntary bankruptcy reflects the challenges that cryptocurrency companies face in the current economic climate. The volatility of digital assets can lead to a lack of collateral, and companies must navigate the legal and financial complexities of the industry to remain viable. #BlockFI #FTX #azcoinnews #azcoin #crypto2023 This article was republished from azcoinnews.com

去年 11 月申請破產的加密貨幣資產借貸平台 BlockFi 已獲得新澤西州破產法院批准，以約 470 萬美元的價格將其資產出售給 US Farms。此次出售包括 BlockFi 的硬幣礦機。
根據美國破產法第11條，自願破產是公司在繼續業務運營的同時透過減少債務進行重建的一種方法。在這種情況下，BlockFi 正在出售其資產，以便在自願破產程序期間最大限度地為其債權人追償。
包括礦機在內的 BlockFi 資產的出售已於 2023 年 1 月 30 日獲得破產法院批准。
BlockFi共為債券提供了6.8萬台比特幣礦機作為擔保，礦機價格下跌有可能導致BitFi債權人缺乏抵押品。
BlockFi 目前正在出售價值 1.55 億美元的貸款。不過，該公司已暫時中止訴訟程序，直至 FTX 前執行長 Sam Bankman Fried 的刑事案件得出結論。美國檢察官擔心 Robinhood 股權訴訟可能會影響針對 SBF 的刑事訴訟。
BlockFi 出售資產並透過自願破產重組債務的決定反映了加密貨幣公司在當前經濟環境下面臨的挑戰。數位資產的波動性可能導致缺乏抵押品，公司必須應對該行業的法律和財務複雜性才能維持生存。
#BlockFI #FTX #azcoinnews #azcoin #crypto2023 
本文轉載自 azcoinnews.com

創作者的更多內容

實時新聞

創作者的更多內容

實時新聞

熱門文章