BlockFi CEO Irked by Celsius, Voyager Comparison

  • Zac Prince told people not to compare BlockFi with Celsius and Voyager.
  • FTX has acquired BlockFi for $25 million.
  • Celsius has hired new lawyers to explore its Chapter 11 bankruptcy options, while Voyager explained where customers’ money is held.

BlockFi CEO Zac Prince took his displeasure to Twitter at being placed in the same league with embattled Celsius Network and Voyager Digital.

As stated in the tweet, people should not put “BlockFi in the same bucket/sentence as Voyager and Celsius.” However, he admitted that two months ago, their situation were similar. In detail, BlockFi has been struggling in many areas and has received a bailout from crypto exchange FTX via a $25 million acquisition.

Someone commented on Prince’s statement, asking, “Isn’t the difference basically [that] one got a bailout while the other two didn’t?”

To this, BlockFi itself responded with a clarification

Currently, Celsius and Voyager are alleged to be filing for Chapter 11 bankruptcy. For those who are not familiar with the said case, this is more like a restructuring than a formal closure. For its part, Celsius has hired new restructuring lawyers to explore its options. 

On the other hand, Voyager has already provided an update to its worried customers regarding their assets. The beleaguered company assured that customers will still regain their funds once the restructuring has been completed.

“USD in your Voyager cash account is held at [the Metropolitan Commercial Bank of New York] (MCB) and is FDIC insured,” Voyager explained. “That means you are covered in the event of MCB’s failure, up to a maximum of $250,000 per Voyager customer.”

However, Voyager iterated that the customers’ money is held at the said bank and not by Voyager itself.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.