BlockFi has $355 million worth of digital assets frozen on FTX’s platform, the company said in court. Lawyers for the troubled lender also provided new details about the company’s financial relationship with Alameda Research.
BlockFi attorney Joshua Sussberg has shared new details about BlockFi’s financial relationship with FTX and Alameda Research, its affiliated trading arm.
“In addition to managing the loan and the $275 million that was pulled, BlockFi also acted as a lender to Alameda, and they also have crypto on the FTX platform,” Sussberg said in court. $671 million in default with Alameda and $355 million in digital assets now frozen on the FTX platform.”
BlockFi filed for bankruptcy protection this week. It becomes the latest company to face financial turmoil following the collapse of one of the world’s largest crypto exchanges.
BlockFi also has a lot of cash stuck at FTX, according to the company’s attorney in a New Jersey courtroom, and BlockFi has $355 million worth of digital assets “frozen” on its platform, according to Sussberg.
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