Jobs at BlockFi

“BlockFi has disclosed accurate information to the Court as part of our Statement of Financial Affairs, which was filed on January 12, 2023,” the representative wrote. The presentation, assembled by M3 Partners, offers a previously unseen overview of BlockFi’s balance sheet. The order also finds that BlockFi made a false and misleading statement for more than two years on its website concerning the level of risk in its loan portfolio and lending activity. BlockFi has built a best-in-class compliance program to safeguard your assets. Whether you’re new to crypto or have owned it for years, we’re here to help.

If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Andy Rosen covers cryptocurrency investing and alternative assets for NerdWallet. He has more than 15 years of experience as a reporter and editor covering business, government, law enforcement and the intersection between money and ideas. In these roles, Andy has seen cryptocurrency develop from an experimental dark-web technology into an accepted part of the global financial system. Some or all of the information you provide on the proof of claim form will be displayed and/or accessible on the debtor’s case website hosted by Kroll Restructuring Administration pursuant to applicable law and/or court order.

What are BlockFi loans?

In announcing the funding, Zac Prince, the chief executive of BlockFi, said it would provide “access to capital that further bolsters our balance sheet.” The deal also gave FTX the option to buy BlockFi. However, it’s also possible to have profits even when the market drops, depending on when you bought and sold the assets. Five employees still with the company make an average of $822,834, according to the presentation, which shows that BlockFi’s retention “plans are larger than comparable crypto cases.”

• The balance shown in the unredacted BlockFi filing includes $415.9 million worth of assets linked to FTX and $831.3 million in loans to Alameda.
• Currently, the so-called “wash sale rule” — which blocks investors from buying a “substantially identical” asset 30 days before or after the sale — doesn’t apply to cryptocurrency, he said.
• Copper operates a crypto custody and prime broking platform for digital assets.
• Your proof of claim form must not contain medical records, complete social security numbers or tax identification numbers , a complete birth date , the name of a minor (only provide the minor’s initials) or a financial account number .
• To determine crypto exchange rankings, we assessed the features and options offered by nearly 25 exchanges, trading apps and brokerage platforms that offer crypto trading options.

In De-Fi lending arrangements, multiple lenders pool their assets in apps governed by code (known as “smart contracts”), which generate the loans and automate payouts. The SEC further found that the BIAs were unregistered securities because they constituted notes under the Supreme Court’s test in Reves v. Ernst & Young. The SEC found that the BIAs did not fall into any of the existing judicially created exceptions and did not bear any family resemblance to notes in those categories. Our multi-disciplinary team helps clients capitalize on the business opportunities, identify the challenges and mitigate the emerging legal risks of digital assets. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

NY DFS Announces First Crypto Enforcement Action Against Robinhood Crypto for AML and Cybersecurity Compliance Deficiencies

In short, they have blockfi that provide easy crypto market access to users who are not comfortable with tools such as personal crypto wallets. The two firms had become intertwined, with FTX striking a deal to buy BlockFi as crypto’s bear market took hold earlier in 2022. As FTX began to spiral, BlockFi suspended withdrawals, citing financial difficulties. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor.

BlockFi marketed itself mainly to small investors, offering them loans in minutes without credit checks. The strategy, known as tax-loss harvesting, may apply to digital currency gains, or other assets, such as year-end mutual fund payouts. After reducing investment gains, you can use up to $3,000 of losses per year to offset regular income.