BlockFi show a $1.2 billion relationship with FTX

BlockFi show a $1.2 billion relationship with FTX - Check out the entire story here

[{"selector":"#anim-6236835c-2892-4a0b-bc32-5d2361ec7183 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-8.318905522267904%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Financial documents that were mistakenly uploaded from bankrupt crypto firm BlockFi show a $1.2 billion relationship with FTX and Alameda Research. Arrow

The presentation, assembled by M3 Partners, offers a previously unseen overview of BlockFi’s balance sheet.

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BlockFi filed for bankruptcy in late November after the collapse of Sam Bankman-Fried’s crypto empire.

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BlockFi’s exposure to FTX was greater than prior disclosures suggested.

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The company filed for Chapter 11 bankruptcy protection in late November, following the collapse of FTX

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[{"selector":"#anim-3c748687-dd84-4382-b9cb-e6316a577829 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The balance shown in the unredacted BlockFi filing includes $415.9 million worth of assets linked to FTX and $831.3 million in loans to Alameda. Arrow

Both of Bankman-Fried’s firms were wrapped into FTX’s November bankruptcy, which sent the crypto markets reeling.

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[{"selector":"#anim-3e0b5213-524e-43dc-acf4-5872877fbf18 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.214243032611854%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Lawyers for BlockFi had said earlier that the loan to Alameda was valued at $671 million, while there were an additional $355 million in digital assets frozen on the FTX platform. Arrow

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