Blockfi

$1.5 billion in cryptocurrency remains in the ruins of companies such as #FTX , #Terraform , #Celsius , and #Blockfi . Over the past few years, a wave of collapses of digital assets has engulfed a number of companies for various reasons — some suffered from earlier disasters, such as the FTX fiasco and Terraform Labs. The collapsed cryptocurrency companies still control assets totaling $1.5 billion on the blockchain. Despite these companies disappearing as a result of collapses and bankruptcies, their wallets, such as those associated with FTX, remain under the management of court-appointed bankruptcy trustees. Terraform Labs collapsed in May 2022 when their algorithmic stablecoin UST lost its peg, wiping out approximately $45 billion and dragging down firms like Three Arrows Capital and Celsius. FTX followed in November 2022, causing a broader shock after the revelations; however, as of June 14, Arkham Intelligence data shows that Terraform Labs still holds $2.45 million on the blockchain. According to Arkham, the bankrupt exchange controls wallets containing $611.93 million in digital assets.

BlockFi received nearly 250 million USDC from Coinbase Prime and may start repaying customer funds
$USDC
#blockfi #coinbaseprime

Use Case Of #Blockchain

Blockchain technology has a wide range of use cases,including:
1.#Charity
2.Supply chain
3.Healthcare
4.Royalty payments
5.Governance
6.Payment solutions and #Dapps
7.Internet of Things (IoT)
8.Closing thoughts

#Web3 #blockfi

⚠️ ATTENTION: Staking platform #Haru has paused withdrawals citing issues with one of their “service partners they have worked with”.

It seems that the history of #Celsius and #BlockFi is repeating itself.

Not your keys, not your coins!