BlockFi has announced that it will release detailed information about its financial standing to the public in the wake of its recent bankruptcy hearing.
In a blog post on its website, BlockFi stated that it would publish a comprehensive financial breakdown on January 11th, including information about its assets, liabilities, and overall financial status.
These filings will provide detailed information about the company’s financial situation and any transactions leading up to the bankruptcy.
One of the critical documents that BlockFi will be required to file is the Schedule of Assets and Liabilities. This document will give a comprehensive list of all the assets that the company owns, as well as all of its liabilities. This will help the court to understand the company’s overall financial situation and to determine the best course of action for restructuring or liquidating the company’s assets.
Another essential document that BlockFi will file is the Statement of Financial Affairs. This document will provide detailed information about the company’s financial transactions, including any transactions made with insiders. This will help the court determine if any fraudulent or illegal activities took place and identify any parties that may be liable for the company’s bankruptcy.
However, according to a recent report, BlockFi’s attorney, Joshua Sussberg, made a statement during a hearing related to the company’s bankruptcy case. Sussberg stated that since the filing for bankruptcy in November, all BlockFi executives had yet to withdraw any of their cryptocurrency holdings.
Sussberg also compared the actions of BlockFi’s executives to those of Celsius. He stated that, in contrast to the actions of BlockFi’s executives, who have reportedly not withdrawn any of their cryptocurrency holdings since the bankruptcy filing, the leadership of Celsius reportedly took a different approach.
It has been nearly two months since the company suspended operations on November 11th and filed for bankruptcy on November 28th. This move has been attributed to the collapse of FTX, which caused a “lack of clarity” and ultimately led to the platform’s failure.
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