BlockFi, a defunct cryptocurrency lender, has received court approval to sell its remaining assets. BlockFi, which allowed users to earn interest on their deposited cryptocurrencies, declared bankruptcy in late November 2022 as a result of its relationship with FTX, which had previously extended the firm several lines of credit. These included a $250 million line of credit to “bolster its balance sheet” in June 2022. According to a new filing made on January 30 in a New Jersey Bankruptcy Court, potential suitors will have until February 20 to submit bids for BlockFi’s assets. If necessary, the assets will be auctioned off on February 28. Representatives of creditors have until March 16 to object to the sale of these assets.
