BlockFi CEO Zac Prince took his displeasure to Twitter at being placed in the same league with embattled Celsius Network and Voyager Digital.
Read CRYPTONEWSLAND onAs 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.
#ShibaInu warns: No official #SHIB airdrops exist. Scammers target users with fake offers. Verify links…
The crypto market is witnessing an unprecedented surge this year, capturing the attention of investors…
📈💰 Bitcoin Spot ETFs surge with $726M inflows, driving market momentum! 🚀 Record Inflows #BitcoinETF…
With SHIB price mostly depreciating in the past month, investors' confidence has also declined, emphasized…
#BlastUP which could potentially see a 20-fold increase. The project's strength lies in its unique…
#GenesisGlobal secures court approval to repay billions in #crypto, ensuring up to 77% recovery and…