Blockworks has learned that Binance US and Coinbase are among the bidders for the this credit card program and its associated customers, while smaller fintech competitor Curve is also interested in the approximately 87,500 BlockFi accounts.
BlockFi suspended withdrawals on November 12, citing a “lack of clarity” regarding the evolving situation at FTX and Alameda Research, both of which have since initiated bankruptcy proceedings.
It was reported by some users that their cards have stopped working in the last 24 hours.
The platform is thought to have a $800 million hole in its balance sheet and is not thought to be heavily involved in the negotiations to buy its card assets.
According to a source close to the situation, a deal is expected within 72 hours, and that the majority of the ongoing negotiations regarding the acquisition of the BlockFi card assets are being conducted by the fintech servicing firm Deserve, which operates the BlockFi program. The issuing bank is Evolve Bank & Trust of Florida.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Chubbi
CoinCu News
Ethena Labs' USDe will now serve as collateral for trading perpetual futures on Bybit, offering…
Morph, an Ethereum layer 2 leading a Consumer Blockchain revolution, has announced the launch of…
Digital asset investment products saw their fourth straight week of outflows, totaling $251 million, prompted…
Singapore, Singapore, May 7th, 2024, ChainwireAs the digital dawn of gaming rises, the visionary minds…
Australian Taxation Office (ATO) has taken a decisive step in its pursuit of tax compliance…
LayerZero CEO Bryan Pellegrino has announced stringent measures regarding airdrops within the LayerZero Labs ecosystem.
This website uses cookies.