On-chain data shows that Blockfi, a now-bankrupt crypto lending company, received a whopping $250 million in deposits (1, 2) into one of its flagged addresses, Arkham Intelligence reports.
The news was shared on X at 12:43 p.m. ET on Monday. Arkham posted: “Blockfi has received $250 million in USDC from Coinbase Prime, bringing their total on-chain holdings to $300 million.”
They continued to ask: “Will repayments to creditors begin soon?” Blockfi’s collapse is deeply related to FTX’s collapse.
In response, the company filed a Chapter 11 plan with the goal of independent restructuring, aiming to provide customers with “as close to complete recovery as possible.”
With Blockfi currently in bankruptcy liquidation, creditors are eager for payments to begin soon.
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