Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

<p>BlockFi,
the cryptocurrency lending firm that declared bankruptcy in November last year,
has secured the bankruptcy court’s approval to permit its users to withdraw
their digital assets. Earlier today (Thursday), BlockFi
opened the
withdrawal service nine months after blocking the feature on its platform.
However, the service is only currently available to customers in the United
States. </p><p>BlockFi
Secures Court’s Approval
for Withdrawal</p><p>BlockFi
disclosed the opening of crypto withdrawals in a post published on X, noting
that the move “is an important step forward toward our goal of returning funds
to clients.” </p><p>“We
encourage all clients to check their email or BlockFi app to see if they are
eligible at this time,” the firm stated in the post. “We expect
more clients, including international clients, to become eligible to withdraw
digital assets from their wallet accounts as we move
forward in the court process.”</p><blockquote><p lang="en" dir="ltr">Earlier today, we opened withdrawals of digital assets from BlockFi Wallet accounts for eligible clients in accordance with the authorization provided by the Court in the Wallet Order: <a href="https://t.co/wOc3Fk0VpH">https://t.co/wOc3Fk0VpH</a></p>— BlockFi (@BlockFi) <a href="https://twitter.com/BlockFi/status/1692187283133473055?ref_src=twsrc%5Etfw">August 17, 2023</a></blockquote><p>Some
customers of the <a href="https://www.financemagnates.com/terms/b/bankruptcy/">bankruptcy</a> digital asset lender also took to Twitter to
express delight at being able to withdraw their funds. However, others
expressed frustration at being unable to do so.</p><blockquote><p lang="en" dir="ltr">I never thought I'd see the day…BlockFi withdraws enabled for wallet accounts (if you meet requirements)I kissed these assets goodbye a year ago. TIME TO COME HOME