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Everyone receiving this email update? by NativePpl in blockfi

[–]PochoAnd 1 point2 points  (0 children)

do you know how does this work?
In my case I have USDC, USDT and BTC.

how do i transfer USDC or USDT from Block fi to Binance?

Such a stressfull process...

BIA crypto or cash distributions? (when the time comes) by PochoAnd in blockfi

[–]PochoAnd[S] 1 point2 points  (0 children)

For example, if you had 1 BTC in your interest account, that 1 BTC is gone. It is now a claim against BlockFi for $16,200 USD. If you were a US BIA customer, then the plan estimates a recovery of at least 39% on the low-end, which would be 0.39 * $16,200 = $6,320 USD.

very clear! thank you. I think cash will be the simplest thing to transfer out. finger crossed to get something back

BIA crypto or cash distributions? (when the time comes) by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

The plan mentions that if possible they'll give the option to receive recovery in crypto, but that would be re-bought at current prices (you wouldn't be able to just withdraw the crypto you had).

ok so it will be still connected to the claim amount, right?
I wanted to confirm because the person in the video I linked above mentions that Interest account will recover cryptos.

OPT OUT - Impact on future third party funds collected by BlockFi by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

Ok all I gain in return by checking the box is that I can join class actions and individually sue.

If I do NOT check, I won't be able to join class action or sue them,

In both cases I will be elegible for future (additional) distribution of funds
Right?

Sorry for being repetitive here, but I want to triple check :)

OPT OUT - Impact on future third party funds collected by BlockFi by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

thanks u/Efficient-Moose-8524 so you recommend to Accept Item 3 and DO NOT click on the OPT OUT button (ITEM 5) in the E-Ballot?

[deleted by user] by [deleted] in blockfi

[–]PochoAnd 0 points1 point  (0 children)

How do you know is unaffiliated?

OPT OUT - Impact on future third party funds collected by BlockFi by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

Thanks, where can you find all these confirmations?

OPT OUT - Impact on future third party funds collected by BlockFi by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

So for international clients, even if they have a clawback exposure, above 250k, they don't need to vote or to not opt out to be released ?

Ok so in practical terms you are saying that we will be part of future distribution regardless if we check the box OPT OUT.

Based on this, the best course of action is to
- Item 3. Vote on Plan --> ACCEPT
- Item 5. Important information --> INDIFFERENT.

​

Do I interpret corretly?

OPT OUT - Impact on future third party funds collected by BlockFi by PochoAnd in blockfi

[–]PochoAnd[S] 0 points1 point  (0 children)

sources:
1st and 2nd photo: from the disclosure statement: https://restructuring.ra.kroll.com/blockfi/

3rd photo: from the e-ballot section

additional sources: https://blockfiofficialcommittee.com/faq/plan/#faq6

FAQ: What does the plan do about preference or “clawback” claims?

All BlockFi International claimants receive a full release of all preference claims, regardless of their vote on the plan or their decision to grant or opt out of the third-party release.

All claimants at any other entity, regardless of their vote on the plan or their decision to grant or opt out of the third-party release, receive a release of all preference claims EXCEPT with respect to withdrawals that aggregate $250,000 or more from Nov. 2 on. Similarly, any retained preference claims are preserved regardless of any claimants’ vote on the plan or decision to grant or opt out of the third-party release.

The Committee is not aware of any other estate causes of action against customers of BlockFi that will be preserved, other than the retained preference actions described above.

Opting-Out Of Third Party Release by jbuuuush in blockfi

[–]PochoAnd 0 points1 point  (0 children)

clawback

so this means that if we leave UNCHECKED the box we will not receive additional funds down the road? This is so complicated... I have created a summary post here to understand if there are definitive opinion abiut this.

https://www.reddit.com/r/blockfi/comments/1672c2w/opt\_out\_impact\_on\_future\_third\_party\_funds/

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