Will BlockFi pay a $30m fine?

Bankrupt cryptocurrency lender BlockFi will not have to pay a $30M fine to the U.S. Securities and Exchange Commission until after its investors are repaid, according to a recent court filing. The payment is part of a $50M penalty that BlockFi owes to the Wall Street regulator for failing to register its crypto lending product.

What happened to BlockFi?

News and analysis for the professional investor. The regulator agreed to forego the payment, owed as part of a settlement of charges against BlockFi, to maximize and speed up payments to investors. May 29-31, 2024 - Austin, Texas The biggest and most established global hub for everything crypto, blockchain and Web3. Register Now

What happens if BlockFi goes bankrupt?

Bankrupt crypto lender BlockFi will be able to defer paying a $30 million fine to the U.S. Securities and Exchange Commission so it can return funds to investors first.

Does BlockFi have a restructuring plan?

Bankrupt lender BlockFi receives conditional approval for its restructuring plan from a U.S. bankruptcy court. (CoinDesk archives) May 29-31, 2024 - Austin, Texas The biggest and most established global hub for everything crypto, blockchain and Web3. Register Now