cryptonews.net
Crypto lending platform BlockFi filed a motion with the Bankruptcy Court of the District of New Jersey to open the withdrawal of user funds from wallet accounts. The company also asked for permission to align and adjust client interfaces to bring digital asset accounting in order. The firm attributed this to attempts to make transactions after it ceased operations in November.
The company's lawyers argued the motion with the user agreements of the platform's custodial service. According to them, the assets in the wallet are the full property of the clients. The hearing on the application was scheduled for January 9, 2023.
On November 28, BlockFi and eight subsidiaries filed for Chapter 11 bankruptcy. FTX Group took this step on November 11th. According to BlockFi's filing, it has over 100,000 creditors. The assets and liabilities of the company are estimated in the range from 1 to 10 billion dollars.
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