Lawyer confirms: BlockFi has approximately $355 million in crypto assets frozen at FTX

ChainCatcher news, according to CoinDesk, attorney Joshua Sussberg stated in U.S. Bankruptcy Court in New Jersey on Tuesday that BlockFi currently has approximately $355 million in cryptocurrency frozen on FTX. Additionally, BlockFi provided a $671 million loan to Alameda Research. Sussberg indicated that the process of recovering BlockFi's funds from FTX is expected to take a long time, and it remains uncertain whether the funds can be recovered.

ChainCatcher previously reported that BlockFi and its eight subsidiaries officially filed for bankruptcy reorganization in New Jersey, intending to proceed with bankruptcy liquidation under Chapter 11. The documents show that BlockFi has over 100,000 creditors, with estimated assets and liabilities both in the range of $1 billion to $10 billion. (CoinDesk)