Although BlockFi has attempted to separate itself from Sam Bankman-Fried’s fraud in the aftermath of FTX’s collapse, its secret financials tell a different story.
This week’s Crypto Biz delves into BlockFi’s uncensored financials, the likelihood of “Celsius token” ever seeing the light of day and the latest high-profile funding deal in blockchain.BlockFi’s financials ? For starters, the bankrupt crypto lending firm reportedly has $1.2 billion in assets tied up in Sam Bankman-Fried’s failed companies — FTX and Alameda Research, to be specific. According to CNBC, BlockFi made these details public by accident, adding insult to injury. Nevertheless, the documents show that the company had $315.9 million worth of assets linked to FTX and $831.3 million in loans to Alameda as of Jan. 14.
It seemed obvious to me
🤔 more of the same, and more to come…
More contagion news... sigh 😪
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BlockFi’s $10M Staff Bonus Package Approved by New Jersey JudgeStaff at bankrupt crypto lender BlockFi can have a $10 million bonus package to ensure they stay with the company, a New Jersey judge has ruled. jackschickler reports BlockFi jackschickler That’s in order to protect customers right? BlockFi jackschickler 🤡🌎 BlockFi jackschickler americanhodl8 Zac’s got the loot.
Source: CoinDesk - 🏆 291. / 63 Read more »
Bankruptcy judge approves BlockFi’s employee retention programBlockFi has lost nearly 10% of its remaining workforce in a 'war for talent.' 🤡
Source: TheBlock__ - 🏆 464. / 53 Read more »
'LEAKED BIDS' — Binance, Galaxy Digital among secret bidders for Celsius assetsBinance, Galaxy Digital and Bank to the Future were among the bidders of Celsius Network's crypto assets in November, according to crypto blogger Tiffany Fong. This just shows how much faith financial institutions have in crypto as an asset. It's only a matter of time before it becomes mainstream. HODLing for the win! Bitcoin FutureOfMoney That's an awesome move by Celsius Network! Big players like Binance and Galaxy Digital recognizing the potential of crypto is a bullish sign for the future. Hodl tight! It looks like some of the top players in crypto are betting on Celsius Network. I'm doubling down on my $BTC hodl, bullish on this news! Hodlgang
Source: Cointelegraph - 🏆 562. / 51 Read more »
UK's FCA hints at why its given only 15% of crypto firms the regulatory nodAs the United Kingdom looks to offer a more appealing business landscape to cryptocurrency firms, its financial watchdog continues to be tough, with just 41 applicants out of 300 approved to date. VPNs always works though lol I thought the idea of Brexit was a Singapore style free-for-all but the Tories want the control of a communist country with the financial benefits of an unregulated economy - like James Thurber’s “boneless creatures made of bone” from his children’s novel “The 13 Clocks”.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Web3 Loyalty Programs Are a Trojan Horse for Good Crypto PolicyWeb3 rewards programs are a low-stakes way of introducing the concepts of self-sovereignty and digital ownership to users – and regulations, aJoshRosenblatt writes. Opinion for PolicyWeek aJoshRosenblatt True. Interesting projects attract users but won't make them stay. Loyalty programs are essential if you want a project to succeed and stay afloat. Our project believes in rewarding our users. 🚀👾 GalxeCampaigns Galxe 🤝 aJoshRosenblatt Web3 loyalty programs make it easier for people to understand and embrace the technology by getting wallets into people's hands and encouraging them to use blockchain-based tools in a familiar context with clear benefits. aJoshRosenblatt Web3 rewards programs can be an effective way to create and introduce self-sovereignty principles, digital ownership concepts and regulatory frameworks. They are a great tool for educating users
Source: CoinDesk - 🏆 291. / 63 Read more »
U.S. securities regulator probes investment advisers over crypto custody -sourcesThe U.S. Securities and Exchange Commission is probing registered investment advisers over whether they are meeting rules around custody of client crypto assets, three sources with knowledge of the inquiry told Reuters. KenGriffinLiedUnderOath CitadelScandal SECisComplicit SECscandal
Source: Reuters - 🏆 2. / 97 Read more »