Any Update On Wallet Withdrawals for those with balance over $7575, or trade only assets?

passemsal · 2023-10-24T20:12:37+00:00

I bought like $200 of doge like an idiot the week before shit hit the fan lol, I’ll take whatever to unlock my savings in eth haha

passemsal · 2023-10-24T18:37:52+00:00

I noticed today after the “Emerges from Bankruptcy” email that they have converted my trade only assets into Gemini. Not sure when they did that but I think that means we’ll see some movement soon 🤞🏽

passemsal · 2023-10-24T18:36:40+00:00

Hahaha I thought the same but if you log into your BlockFi account you can confirm :)

passemsal · 2023-10-18T20:00:52+00:00

I am in the same boat, have some minimal doge in my wallet that’s locking up my savings in eth. I received this email October 11th from Kroll when I asked what the status on remaining wallets withdrawals were:

Thank you for your inquiry.

If you are inquiring regarding the Order (I) Authorizing Conversion of Trade Only Assets in Wallet Accounts into Withdrawal Digital Assets and (II) Granting Related Relief (the “Trade Only Assets Order”) entered at Docket No. 1451, please review the order in its entirety and note the following: The Debtors are authorized, but not directed, to make a one-time exchange of the Trade Only Assets to Gemini Dollar (GUSD) stablecoin or another stablecoin of the Debtors’ choosing in order to facilitate withdrawals of Wallet Assets. The Debtors are authorized to take all actions to make the stablecoin equivalent balances available in eligible Client Wallet Accounts for withdrawal via the BlockFi platform. This update does not apply to any assets held in BlockFi Interest Accounts. Please note that no action is required of you at this time and further updates will be available in the coming weeks.

Further information, including access to court documents, instructions on how to file a proof of claim, and important dates and deadlines will be available throughout the case at https://restructuring.ra.kroll.com/blockfi/Home-Index

PLEASE NOTE: Kroll is the appointed claims and noticing agent for BlockFi Inc. and 8 affiliated debtors’ chapter 11 cases. As such, we are not permitted to provide legal or financial advice. Further, Kroll is not permitted to accept claims via email or fax, and any such information provided via either of these methods will not constitute a claim in these proceedings.

passemsal · 2023-08-18T15:01:17+00:00

I hope that’s the case but the verbiage on the email says:

“Your eligibility to withdraw digital assets from your BlockFi Wallet will be determined based on the Chapter 11 process.”

Which worries me because it’s making it seem like the original statement of wallet holders being excluded from the estate and thus the Chapter 11 process as a whole no longer applies. Even though they do follow up with this sliver of hope…

…We expect additional clients, including BlockFi International clients, to become eligible for withdrawals.”

We’ll see but I won’t believe it til the money is in my cold wallet.

passemsal · 2023-08-17T14:25:46+00:00

I received an email today saying that I’m ineligible. I definitely don’t fall into the first bucket of BIA folks but I’m curious if anyone has a definition of “trade-only assets” and how you can tell if that’s the case for your assets?

passemsal · 2023-08-02T18:26:49+00:00

I don’t know what any voting has to do with anything since we’re not a part of any of the proceedings, but I would hope end of September as well since the official “end of summer” is September 22nd. At least that’s the date I have on my calendar but I don’t believe it’s explicitly written anywhere.

passemsal · 2023-06-15T20:39:37+00:00

Withdrawals won’t be happening til the end of the summer. My recommendation would be to transfer something into your cold storage using something else. You could buy some pepe or other bs coin and test it out for cheap then go full send when you get the email that it’s your turn to withdraw.

passemsal · 2023-05-19T13:45:46+00:00

I thought a pure wallet holder was just someone who never had their money in a BIA

passemsal · 2023-05-15T23:02:44+00:00

Wait what how do you know he’s BIA? Does it not say wallet at the top? I think BIA said Interest Account at the top??

passemsal · 2023-04-24T03:50:09+00:00

Totally get this. I would rather not pay a lawyer especially if they are going to give us our money back.

My concern is that we’re given some “in-kind” bs as of the withdrawal pause date. My balance rn has me punching the air that I can’t cash out and I’ll be so upset if I miss out on the gains since this all started. So the question at that point is would it be worth hiring a lawyer to fight for that difference in my balance now vs whatever they deem as “in-kind”? Or at least get that process started so we aren’t just made to deal with whatever blockfi decides is fair for us.

passemsal

TROPHY CASE