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BlockFi used customer money to buy $30M insurance, creditors claim

On May 12, BlockFi outlined its Chapter 11 reorganization plan in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors, as it owes nearly $1.3 billion to its top 50 creditors.

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Source: Cryptocurrency - investing.com

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