zac prince – DIGIT INFO

Circle and BlockFi questioned on banking with SVB by Warren and AOC

DIGIT — Wed, 12 Apr 2023 00:32:44 +0000

Circle and BlockFi executives were questioned after the lawmakers accused SVB of “coddling” and giving “white glove” treatment to its largest depositors.

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BlockFi execs, Gemini named in proposed lawsuit by a disgruntled investor

DIGIT — Thu, 02 Mar 2023 05:43:29 +0000

Gemini is accused of providing BlockFi with custodial services and misleading information to help BlockFi market its alleged unregistered securities.

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Unredacted Financial Documents Show Blockfi’s $1.2 Billion Connection With FTX, Alameda Research

DIGIT — Wed, 25 Jan 2023 19:04:50 +0000

Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed. Unredacted Documents Reveal Blockfi’s $1.2 […]

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FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock

DIGIT — Fri, 23 Dec 2022 18:30:04 +0000

Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankman-Fried (SBF). Court Filing Wants to ‘Enforce an Automatic Stay’ Against Claims Over FTX’s 56 Million Robinhood Shares On Dec. 22, 2022, court […]

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Blockfi Pauses Customers Withdrawals, Cites ‘Lack of Clarity’ on FTX’s Status as Cause

DIGIT — Fri, 11 Nov 2022 02:30:38 +0000

Blockfi, a cryptocurrency lending platform, has announced that it is limiting the operations of its platform and pausing customer withdrawals. The company issued a letter where it states that this decision was caused by the “lack of clarity” on the current state of FTX, which had previously announced an investment of $250 million in the […]

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Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors

DIGIT — Mon, 04 Jul 2022 14:30:59 +0000

On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a […]

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Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M

DIGIT — Sun, 03 Jul 2022 15:30:26 +0000

According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used to acquire Blockfi at a variable price up […]

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Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX, CEO Says Capital Will Bolster Its Balance Sheet

DIGIT — Tue, 21 Jun 2022 19:30:53 +0000

The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle […]

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Crypto Lending Company Blockfi Cuts Staff by 20%

DIGIT — Mon, 13 Jun 2022 21:49:48 +0000

On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to […]

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New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender

DIGIT — Thu, 29 Jul 2021 15:30:58 +0000

On July 28, Zac Prince, the CEO of crypto finance firm Blockfi, explained that the company has been “engaged in a productive discourse” with U.S. regulators. Prince further said the New Jersey Bureau of Securities had extended the state’s previous order to September 2. Meanwhile, the company also has issues with Vermont’s Department of Financial […]

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