Cryptocurrency lender BlockFi, which filed for bankruptcy earlier this week, said during a court hearing on Tuesday that it plans to reopen withdrawals soon in an effort to "maximize client recoveries."
"We want to make sure we get people back as much of their value as quick as we can," lawyer Josh Sussberg stated. BlockFi's lawyers also insisted the company is in a good position to restructure and use the bankruptcy process to save its business.
On Monday, the crypto lender filed for Chapter 11 bankruptcy protection in New Jersey, noting it had "significant exposure" to Three Arrow Capital and FTX, both of which went bankrupt earlier this year.
