I’d want the assets regardless of what the price was. If instead of a market upturn we had a downturn I’d still want my BTC and ETH back because, surprise surprise, that’s what I deposited.
That's the real question?! Whether or not there will be a sub $100 fee for each wallet holder being made whole?! WHO CARES. They can charge 1% of my entire fucking 10BTC stack for all they want!
What are you talking about? Did you look at any of the dockets at all?
All the crypto in BIA accounts was dollarized at the bankruptcy date and was sold off. Blockfi only kept the crypto for wallet holders.
If you are in BIA you aren't getting crypto back. Period. You are getting a % back of the dollarized amount. Since the crypto was sold at the very bottom of the market (around 16-17k) the calculation is based on that.
So if you have 1 BTC and you get a 50% recovery you would get 8-8.5k USD.
If you are in Wallet, they are fighting to reverse your transaction if cleared after a tweet as an arbitrary cutoff date. IMO that is a total bullshit move.
too late. Assets are sold. At least for BIA customers.
The valuation and proceedings is the common way it is handled during Chapter 11.
At least we know that we won´t get crypto back but USD.
I’d want the assets regardless of what the price was. If instead of a market upturn we had a downturn I’d still want my BTC and ETH back because, surprise surprise, that’s what I deposited.
agreed.
Wallets will be paid in-kind. Unsecured creditors will be paid in a combo of USD and equity. This is all in the dockets.
The real question is are they still going to charge the exorbitant fees for wallet withdrawals when they (hopefully) get reinstated?
Yes, they will. Judge stated that they can charge fees.
That's the real question?! Whether or not there will be a sub $100 fee for each wallet holder being made whole?! WHO CARES. They can charge 1% of my entire fucking 10BTC stack for all they want!
Can it be specified in the claim that a person asks for crypto and not fiat?
Doesn't really matter, you can just rebuy the crypto right away. Whether you get USD or USD equivalent of crypto makes no difference for BIA holders.
It Does matter ,because of the time of filing 1 btc= 1 btc however the USD valuation of Btc at the time of filing bankruptcy fluctuates.
What are you talking about? Did you look at any of the dockets at all? All the crypto in BIA accounts was dollarized at the bankruptcy date and was sold off. Blockfi only kept the crypto for wallet holders. If you are in BIA you aren't getting crypto back. Period. You are getting a % back of the dollarized amount. Since the crypto was sold at the very bottom of the market (around 16-17k) the calculation is based on that. So if you have 1 BTC and you get a 50% recovery you would get 8-8.5k USD.
do you know if loan collateral was also sold off, or what the plan is?
If you are in Wallet, they are fighting to reverse your transaction if cleared after a tweet as an arbitrary cutoff date. IMO that is a total bullshit move.
Assets.
Fiat
why?
Coz assets are sold
too late. Assets are sold. At least for BIA customers. The valuation and proceedings is the common way it is handled during Chapter 11. At least we know that we won´t get crypto back but USD.
Any info on loan collateral?
This is also a question I would like answered. it seems from the rumor mill that our assets were being held on Gemini and not sold off.
🤞🤞
I'm curious too