February 5, 2023

BlockFi Lost $1.2 Billion in FTX and Alameda Research Bankruptcies

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BlockFi Lost $1.2 Billion in FTX and Alameda Research Bankruptcies

Crypto lender BlockFi has lost $1.2 billion in assets invested in FTX and Alameda Research, according to published documents.

According to CNBC, it appears that the statementsBlockFi about blocking over $1 billion in FTX and Alameda turned out to be true. According to new information, the company invested $415.9 million in assets in FTX and $831.3 million in Alameda Research. This information was accidentally released by M3 Partners, which is BlockFi's bankruptcy advisor.

CNBC analysts also note that whileBlockFi's bankruptcy filing states that it has no affiliation with FTX and Alameda, the financial relationship between the companies is quite complicated. For example, on July 1, the US division of FTX provided a $400 million credit line to a crypto lender to save the company after the collapse of the Terra ecosystem.

Recall that BlockFi tried to sue the former CEO of the FTX exchange, Sam Bankman-Fried, of shares in the Robinhood service in the amount of $ 648 million.