• BlockFi announced that it will soon file a report regarding its assets, liabilities, and transactions.
• According to BlockFi’s lawyer, Joshua Sussberg, none of the company’s executives have withdrawn crypto assets since their bankruptcy filing in November.
• BlockFi also repaid an unknown investor $15 million to prevent a potential lawsuit.
BlockFi, the lending company, recently released a statement on its website indicating that it will soon be filing reports regarding its financials. The reports will include the company’s Schedules of Assets and Liabilities, as well as its Statement of Financial Affairs. The filing is expected to take place on Wednesday, January 11th.
The filing comes in the wake of a Jan. 9 bankruptcy hearing, during which BlockFi’s lawyer, Joshua Sussberg, revealed several pieces of information about the company’s finances. Most notably, Sussberg stated that none of BlockFi’s executives have withdrawn any of their crypto assets since the company’s bankruptcy filing in November. This is in contrast to the reported behavior of Celsius‘ leadership, as numerous individuals, including Celsius CEO Alex Mashinsky, withdrew assets shortly before the company ceased its services.
Additionally, Reuters reported that BlockFi repaid an unknown investor $15 million in order to preempt a potential lawsuit. According to Sussberg, the investor had expressed complaints concerning the delay of payments.
Once the report is filed, the public will have access to a detailed breakdown of BlockFi’s assets, liabilities, and transactions. This will no doubt be beneficial not only to the company itself, but also to the public, as it will provide greater transparency into the financial situation of the firm.