The US-based cryptocurrency lending platform BlockFi, which declared bankruptcy at the end of November, has made a request to restart withdrawals for users with locked cryptocurrencies in their wallets. A hearing on the motion is scheduled for Jan. 9.
What Happened?
On Monday, November 28, BlockFi announced that it filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey involves the company and its eight subsidiaries. According to the statement made by BlockFi, the company has $256.9m. On the other hand, the company made proposals for the payment of salaries and the continuation of employee benefits without interruption.
