Consequences of the FTX scandal at the hands of its founder and former CEO, Sam Bankman Fried, continue to surface.that the bankrupt crypto lender BlockFi Inc. appealed to the United States Bankruptcy Court in Wilmington, Delaware, to strip the Chapter 11 bankruptcy protections from SBF’s offshore investment vehicle.purchase a 7.6% stake in Robinhood Markets Inc
However, a spokesperson from financial adviser Quantuma, Emergent’s liquidators, said the bankruptcy was filed to ensure protection for the rights of its creditors, “whoever they may be.” “...The [liquidators] believe that Chapter 11 protection is the only practical way to empower Emergent to defend itself, its assets and its creditors’ interests in the U.S.”
Clearly BlockFi is the ONLY reason FTX entered bankruptcy!
On Feb. 17, it was reported that bankrupt crypto lender BlockFi has appealed to the United States Bankruptcy Court in Wilmington, Delaware to strip the Chapter 11 bankruptcy protections from SBF’s offshore investment vehicle.
History will never forget these infamous companies that dealt a huge blow to crypto. Rest in non-peace FTX!