BlockFi Emerges from Bankruptcy
Crypto lender BlockFi has announced its emergence from insolvency, just days after FTX successfully reclaimed $7 billion in assets. BlockFi has lent FTX over $650 million, making it one of the exchange's largest creditors. BlockFi's ability to recover its assets is crucial for its customers' repayment success.
FTX Considers Future Options
FTX's new management is considering selling the entire exchange or partnering with another entity to revive it. An independent comeback is also on the table.
Light at the End of the Tunnel
Bankrupted companies from the 2022 crypto bear market, including FTX and BlockFi, are starting to return their customers' funds.
BlackRock's Bitcoin ETF Developments
The proposed iShares spot Bitcoin ETF by BlackRock has been listed on the Depository Trust & Clearing Corporation (DTCC), suggesting potential approval by the SEC. The SEC has until Jan. 10, 2024, to reach a final decision on the ETF.
BlockFi Opens Wallet Withdrawals
BlockFi has emerged from bankruptcy and is now allowing withdrawals for nearly all Wallet customers. BlockFi will attempt to recover assets from other firms, including bankrupt crypto platforms, to pay back its creditors.
Ledger Rolls Out Private Key Recovery Tool
Hardware wallet firm Ledger is launching its cloud-based private key recovery solution despite criticism. The solution, provided by Coincover, allows users to back up their secret recovery phrase.
Worldcoin Halts USDC Payments
Worldcoin will stop paying its Orb Operators in USD Coin (USDC) and will instead pay them in its native Worldcoin (WLD) token. The change will take effect next month.
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