Is BlockFi a good cryptocurrency trading service?

While its trading services are best for self-directed, or hands-on, traders, you can also utilize its recurring trades feature to automate your crypto trades on a schedule you choose. BlockFi also offers a rewards credit card that lets investors earn 1.5% cash back in bitcoin on purchases.

Did BlockFi review FTX financial reports?

Jersey City, N. J. -based BlockFi, which secured a rescue loan from FTX in June to shore up its liquidity, reviewed unaudited FTX financial reports as part of due diligence it performed at the time of the transactions, said Joshua Sussberg, a lawyer for BlockFi, during its debut hearing in the U. S. Bankruptcy Court in Trenton, N. J.

What happened to BlockFi after three arrows capital failed?

After Three Arrows Capital failed, BlockFi got caught up in the contagion. It got bailed out by FTX, but when FTX collapsed, the firm was out of options. In a court submission, the BlockFi Official Committee of Unsecured Creditors argue that the collapse of other platforms is only part of the story.

What happened to BlockFi in 2022?

BlockFi filed for bankruptcy and paused client withdrawals at the end of 2022. The platform is now frozen and you cannot open a new account or deposit funds. For other options, we suggest reviewing our list of the best crypto apps and exchanges.