BlockFi issued a document on the USD cryptocurrency. Today BlockFi announced the start of the next round of fund returns.
Starting in February, customers of BlockFi’s remaining businesses, including BlockFi Interest Accounts (BIA), loan customers, and private customers, will be able to initiate withdrawal requests. To be eligible for allocation, a claimant must have an allowed claim, claimants who have filed claims but have not yet been reconciled and approved will be eligible after claims reconciliation.
The opening of withdrawals will be staggered based on account type and value to minimize risk and ensure smooth withdrawals for all participants within the expected weeks. Therefore, not all accounts will be available immediately and further announcements regarding opening dates for each type of account will be made separately.
This is the first wave of refunds for these businesses, and BlockFi expects to refund 20-40% of allowed claims to qualified customers. BlockFi continues to anticipate further withdrawals of FTX assets, which will be distributed to customers upon receipt. Withdrawals will be made in batches and customers eligible to withdraw will receive an email with specific instructions.