Bankrupt BlockFi to Begin Interim Crypto Distributions Through Coinbase in July 2024

Crypto lender BlockFi, which filed for Chapter 11 bankruptcy protection after the collapse of FTX in November 2022, has announced that it will begin interim crypto distributions through Coinbase this month. The distributions will be processed in batches over the coming months, and eligible clients will receive a notification to their BlockFi account email. However, non-US clients will be unable to receive funds at this time due to regulatory requirements. BlockFi settled with the estates of FTX and Alameda Research for nearly $1 billion dollars earlier this year, bringing it closer to full recovery for customers.