EddieJayonCrypto

 23 Jul 24

tl;dr

Bankrupt crypto lender BlockFi's plan administrator has requested a U.S. court order for the final distribution to fully compensate customers and unsecured creditors. The administrator closed a substantial transaction, monetizing $874.5 million in claims against FTX at a significant premium. This ou...

BlockFi's plan administrator is seeking a court order for the final distribution to customers and creditors, representing a positive outcome for all parties involved. The bankrupt crypto lender's administrator has requested a U.S. court order to fully compensate customers and unsecured creditors. This request follows the closure of a substantial transaction, monetizing $874.5 million in claims against FTX at a significant premium. The administrator described this outcome as the best possible for BlockFi's customers and intends to promptly initiate the Final Customer Distribution.


"This transaction marks a final chapter in the wind-down and is the best possible outcome for customers of BlockFi," said Mohsin Y. Meghji, Plan Administrator of BlockFi Inc. The administrator seeks an order that would provide for final distribution to all eligible customers and unsecured creditors, as outlined in a report filed to the U.S. Bankruptcy Court for the District of New Jersey.


BlockFi, which filed for bankruptcy protection in November 2022 due to the collapse of crypto exchange FTX, recently announced plans to start interim crypto distributions through Coinbase in July 2024. Despite being an early victim of the FTX collapse, BlockFi's path toward distribution represents progress in resolving the aftermath of the exchange's downfall.

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Emeren Group Ltd develops, builds, operates, and sells solar energy projects. The company is headquartered in Stamford, Connecticut.

Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES

Market Cap: 104.825M

Dividend Yield: None

EPS: -0.16

Shares Outstanding: 1.918M

Beta: -0.127

Volume: 106.582M

Latest Close: 4.38

Latest Open: 3.42

Latest Change: 0.148

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Company: C3 Ai Inc

Stock Ticker: C3

Sector: Technology

Industry: Services - Prepackaged Software

Market Cap: $3,474,309,000

Dividend Yield: None

EPS: -2.34

PE Ratio: 2.602

ROE: -0.901

Volume: 310,582,000

Stock Price: $29.35

52-Week Range: $0 - $0.196

More about Coinbase Global Inc

Company: Coinbase Global Inc

Description: Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy. The company is headquartered in Wilmington, Delaware.

Sector: FINANCE

Industry: FINANCE SERVICES

Market Cap: 63,305,232,000

Current Price: $50.45

Dividend Yield: None

P/E Ratio: 5.11

EPS: 15.83

Beta: 0.357

Volume: 3,777,835,000

52-Week Range: $263.42 - $3.27

Price/Sales: 1.156

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