BlockFi Investor Conference Presentation Deck
The Debtors' Response
BlockFi took several proactive measures to attempt to limit its exposure to FTX and Alameda
through a combination of margin calls and recalls of open-term loans. In addition, in early
November 2022, BlockFi made an additional borrowing request from FTX, which was denied.
Alameda thereafter defaulted on approximately $680 million of loan obligations to BlockFi.
We are in the heartbreaking position of sharing the following news with you:
BlockFi
November 11, 2022
BlockFi Update
1 We are shocked and dismayed by the news regarding FTX and Alameda. We, like the rest of the world, found out
about this situation through Twitter. Given the lack of clarity on the status of FTX.com, FTX US and Alameda, we are not
able to operate business as usual.
2 Our priority has been and will continue to be to protect our clients and their interests.
W
3
Until there is further clarity, we are limiting platform activity, including pausing client withdrawals as allowed
under our Terms. We will share more specifics as soon as possible. We request that clients not deposit to BlockFi Wallet
or Interest Accounts at this time.
4 We intend to communicate as frequently as possible going forward but anticipate that this will be less frequent
than what our clients and other stakeholders are used to.
BlockFi
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