Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an Oct. 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that BlockFi Interest Account (BIA) and Loan customers will be able to withdraw some assets in early 2024.
According to the post, BlockFi’s emergence from bankruptcy means that it can now attempt to recover assets from other firms it believes owe it money. This includes bankrupt crypto platforms such as Three Arrows Capital (also known as “3AC”) and FTX. The firm will also be able to continue distributing assets to its creditors and processing claims.