BlockFi Shuts Web Platform, Partners with Coinbase for Crypto Withdrawals

Embattled crypto lender BlockFi announced Thursday that it plans to close its web platform this month, and is partnering with Coinbase to distribute funds to clients. The New Jersey-based firm said its Coinbase partnership will allow eligible BlockFi Interest Account, Retail Loan, and Private Clients to withdraw their crypto holdings. BlockFi filed for bankruptcy in Nov. 2022 after FTX’s collapse. CEO Zac Prince, who testified as a government witness in Bankman-Fried’s criminal trial, claims the FTX founder’s actions directly caused BlockFi’s bankruptcy. The plan administrator will have the power to use Coinbase for upcoming distribution rounds, which may involve distributions from recovered funds from FTX.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android