FTX and Alameda owe BlockFi more than $1 billion

This was reported by the attorney of the crypto lending platform in the framework of the court hearings

30.11.2022 - 07:45

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What’s new? The attorney for the bankrupt crypto lending platform BlockFi said that liabilities on the part of FTX Group include a $671 million unpaid loan to the trading firm Alameda Research and $355 million in cryptocurrency locked on the FTX exchange. This was reported by Twitter user Walter Bloomberg.

BLOCKFI EXPOSURE TO FTX INCLUDES $671 MLN UNPAID LOAN TO ALAMEDA RESEARCH, $355 MLN IN CRYPTO LOCKED ON FTX'S EXCHANGE - BLOCKFI ATTORNEY — *Walter Bloomberg (@DeItaone) November 29, 2022

What else is known about the incident? The information about the debt of more than $1 billion appeared during the first day of the bankruptcy hearings of BlockFi and related companies. After the collapse of FTX, BlockFi suspended its withdrawals and claimed that FTX and Alameda (both owned by Sam Bankman-Fried) have significant liabilities to the platform.

BlockFi is now focused on collecting all liabilities from its counterparties. The platform’s largest creditors are Ankura Trust Company, West Realm Shires Inc., and the US Securities and Exchange Commission (SEC). Outstanding liabilities are estimated at $729 million, $275 million, and $30 million, respectively.

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