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BlockFi's Creditor Repayments Start this Month

Distributions via Coinbase will begin in July for eligible U.S. clients.

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Defunct crypto lender BlockFi will start crypto distributions via Coinbase Coinbase this month after its bankruptcy in November 2022.

What's the scoop?

  • Initial Distributions: Distributions via Coinbase will begin in July for eligible U.S. clients and will continue for one year.
  • Regulatory Exclusions: Non-U.S. clients are excluded from receiving funds due to regulatory requirements.
  • Fiat Claims Processing: Fiat claims for BlockFi clients are processed by Kroll and Digital Disbursements, not Coinbase.

Bankless Take:

The redistributions just keep coming. While this may add more sell pressure to the market on top of Mt. Gox’s redistributions, the lengthy return period could lessen this blow, giving the bull market more time to rally. If it does rally, the redistributions could be hodled instead of sold by those who receive their assets. This only applies to U.S. clients, though, leaving a significant portion of BlockFi's user base waiting for now.


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David C

Written by David C

369 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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