What happens to my digital assets in the event of BlockFi's bankruptcy?

3 answers

• jami gulfamDec 02, 2020 · 5 years ago
  If BlockFi were to declare bankruptcy, the fate of your digital assets would depend on the specific circumstances and legal proceedings. In most cases, your assets would be held separately from BlockFi's own assets, which means they should not be affected by the bankruptcy. However, it is important to note that there may be delays in accessing your assets during the bankruptcy process. It is always a good idea to diversify your investments and consider using multiple platforms to mitigate the risk of losing access to your digital assets in such situations.
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• Mayank SaxenaSep 17, 2021 · 4 years ago
  In the event of BlockFi's bankruptcy, your digital assets should not be directly impacted. BlockFi operates as a custodian, meaning that your assets are held in separate wallets and are not considered part of BlockFi's own assets. This separation should protect your assets from being affected by the bankruptcy. However, it is crucial to stay informed and monitor the situation closely, as there may be temporary restrictions or delays in accessing your assets during the bankruptcy proceedings.
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• CASEWebDesignsMar 27, 2022 · 4 years ago
  While I cannot speak specifically about BlockFi, it is important to understand that the fate of your digital assets in the event of a platform's bankruptcy can vary. Some platforms operate as custodians, meaning your assets are held separately and should not be impacted by the bankruptcy. However, it is always recommended to carefully review the platform's terms and conditions, as well as any insurance or security measures they have in place to protect your assets. Additionally, diversifying your investments across multiple platforms can help mitigate the risk of losing access to your digital assets in case of a platform's bankruptcy.
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