{"id":282973,"date":"2022-12-20T08:45:12","date_gmt":"2022-12-20T08:45:12","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=282973"},"modified":"2022-12-20T10:32:25","modified_gmt":"2022-12-20T10:32:25","slug":"blockfi-one-step-closer-to-opening-withdrawals","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/blockfi-one-step-closer-to-opening-withdrawals\/","title":{"rendered":"BlockFi one step closer to opening withdrawals, but not for majority of users"},"content":{"rendered":"

Lending firm BlockFi has filed a motion that could allow customers to withdraw funds from their wallets, according to an email<\/a> that was leaked on Dec. 19.<\/p>\n

That message indicates that BlockFi submitted its filing to the U.S. Bankruptcy Court in order to gain authorization which will allow customers to withdraw funds from their BlockFi Wallet Accounts. BlockFi is also seeking relief from the Supreme Court of Bermuda so as to allow customers to withdraw assets from its international platform.<\/p>\n

BlockFi said that it believes that its clients “unambiguously own the digital assets” in their wallet accounts. It further noted that seeking authorization through the above legal process is a “necessary step towards ensuring all clients are treated fairly,” adding that it aims to ensure that it can honor all requests properly.<\/p>\n

BlockFi clarified that the motion does not concern withdrawals and transfers from Interest Accounts, which are separate from main accounts and remain frozen.<\/p>\n

The company says that its request will likely be heard in the United States during its upcoming Jan. 9 hearing and in Bermuda during its Jan. 13 hearing.<\/p>\n

BlockFi first paused withdrawals<\/a> on Nov. 10, citing the collapse of FTX and uncertainty around the situation as the reason for its decision. The firm filed for bankruptcy<\/a> weeks later on Nov. 28. The company's first hearing<\/a> began soon after that on Nov. 29.<\/p>\n

Today's development means that BlockFi customers may regain access to their funds fairly soon \u2014 and without having to endure the entire restructuring process.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lending firm BlockFi has filed a motion that could allow customers to withdraw funds from their wallets, according to an email that was leaked on Dec. 19. That message indicates that BlockFi submitted its filing to the U.S. Bankruptcy Court in order to gain authorization which will allow customers to withdraw funds from their BlockFi […]<\/p>\n","protected":false},"author":1403,"featured_media":220027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60035],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nBlockFi one step closer to opening withdrawals, but not for majority of users<\/title>\n<meta name=\"description\" content=\"BlockFi has filed a motion that could soon allow its customers to begin withdrawing funds from their wallets, according to a Dec. 19 email.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/blockfi-one-step-closer-to-opening-withdrawals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlockFi one step closer to opening withdrawals, but not for majority of users\" \/>\n<meta property=\"og:description\" content=\"BlockFi has filed a motion that could soon allow its customers to begin withdrawing funds from their wallets, according to a Dec. 19 email.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/blockfi-one-step-closer-to-opening-withdrawals\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-20T08:45:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-20T10:32:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/blockfi-penalty.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mike Dalton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike Dalton\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/blockfi-one-step-closer-to-opening-withdrawals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/blockfi-one-step-closer-to-opening-withdrawals\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#person\",\"name\":\"Mike Dalton\",\"url\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"caption\":\"Mike Dalton\"},\"jobTitle\":\"Former Journalist\",\"description\":\"Before transitioning to crypto writing in 2018, Mike studied library and information sciences. 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