Onchain data indicates that Blockfi, the crypto lending company currently in bankruptcy, has received a significant deposit of $250 million to one of its identified addresses, according to Arkham Intelligence. This information was shared on X at 12:43 p.m. EDT on Monday. Arkham noted, “Blockfi received $250M in USDC from Coinbase Prime, increasing their onchain assets to $300M.” They also inquired, “Will creditor repayments be starting soon?” The firm’s decline was closely tied to the fallout from FTX’s collapse. In light of this, Blockfi initiated a Chapter 11 plan aimed at restructuring itself, with the intention of providing customers with “as close to a full recovery as possible.” Now that Blockfi is in the post-bankruptcy wind-down stage, creditors are eager for repayments to commence promptly.
