Share this article
BlockFi to Start Interim Crypto Distributions Through Coinbase This Month
BlockFi was the first victims of the contagion caused by crypto exchange FTX’s collapse in early November 2022 and filed for bankruptcy on Nov. 28, 2022.
Updated Jul 18, 2024, 11:48 a.m. Published Jul 18, 2024, 11:45 a.m.
- BlockFi will start interim crypto distributions through Coinbase this month.
- BlockFi filed for Chapter 11 bankruptcy protection after the FTX collapse in November 2022.
Bankrupt crypto lender BlockFi will commence first interim crypto distributions through Coinbase (COIN) in July 2024, it announced on Thursday.
BlockFi was the first victims of the contagion caused by crypto exchange FTX’s collapse in early November 2022 and filed for Chapter 11 bankruptcy protection on Nov. 28, 2022, less than a month after halting withdrawals from the platform. BlockFi then began the process of asking the court to greenlight customer withdrawals that are locked up in the platform.
STORY CONTINUES BELOW
In September 2023, creditors approved its bankruptcy restructuring plan and in early 2024, BlockFi settled with the estates of FTX and Alameda Research for nearly $1 billion dollars bringing BlockFi closer to full recovery for customers.
"The distributions will be processed in batches in the coming months, and eligible clients will receive a notification to the BlockFi account email on file," the announcement said. "Please note that non-US Clients are unable to receive funds at this time due to the regulatory requirements applicable to them."
Those clients who did not withdraw their funds by earlier deadlines could reach out to the bankruptcy administrator has the ability to use Coinbase for future rounds of distributions.
Read More: BlockFi Says It's Taken Major Step Toward Emerging From Bankruptcy
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
Top Stories
