Still think TITNC3: Return of the Iceberg was peak

...Well, there goes my 50$ of crypto

 

sooooo.....MOASS is coming? Please I am tired of working.

 

same...... Ohwell. I would have just spent it on gas or something I dont really need I guess.

 

If anyone wants to read the email blockfi sent me....yesterday, at about 1:30 PM, so about the same time as me posting this right now AND a couple tweeters talking about BK. 24 hours does a lot.

Spoiler

We know the past few days have been incredibly difficult for you. We are deeply saddened to see the devastation that is cascading across an industry that we love and believe in, touching the lives of so many people. Our top priority remains doing the best we can for our clients.

After everything we accomplished this summer to protect BlockFi, last week’s news regarding FTX was unexpected for us at BlockFi and for so many others. We are working around the clock to evaluate all of our available options.

Where do things stand today?

We determined late last week that in the current environment we could no longer operate our business as usual. Given that FTX and its affiliates are now in bankruptcy, the most prudent decision for us, in the interest of all clients, is to continue to pause many of our platform activities for now.

The rumors that a majority of BlockFi assets are custodied at FTX are false. That said, we do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX US. While we will continue to work on recovering all obligations owed to BlockFi, we expect that the recovery of the obligations owed to us by FTX will be delayed as FTX works through the bankruptcy process.

At this time, withdrawals from BlockFi continue to be paused. We also continue to ask clients not to submit any deposits to BlockFi Wallet or Interest Accounts.

Regarding our credit card product, BlockFi relies on partners to deliver the credit card product and distribute rewards. Customers may have received communication that didn't originate from BlockFi, but from our partners, Evolve Bank and Deserve. We are working with our partners and intend to directly provide further details on our credit card program as and when appropriate.

What’s next?

There are a number of scenarios that may be available to us, and we are doing the work now to determine the best path forward. BlockFi has the necessary liquidity to explore all options and we have engaged expert outside advisors that are helping us navigate BlockFi’s next steps. Haynes and Boone continues to serve as our primary outside counsel, and BRG has been engaged as our financial advisor.

As we work expeditiously through this quickly evolving situation, we are focused on doing the utmost to be transparent around decisions related to our pause, products, and platform activity.

Across BlockFi, our team is working tirelessly towards our primary objective of maximizing value for all of our clients, and that will see us explore every strategic option available to us.

We will do our best to communicate through our official channels as often and transparently as possible going forward but expect these explorations may take time. We appreciate your patience during this period.

The BlockFi Team

 

market tanking.
poland hit by Russian missile.

 

stopped out.

 

Great. Just when I was ready to buy steak !

 

Sigh.

Russian incompetence has really been an economic drag this year.

Putin can fuck off with his Soviet angst. The Union ain't comin back Vlad. Ukraine pushed your asses back and the rest of the West hasn't even gotten involved.

Go home and be quiet.

 

now someone tells me!

see this why i like having @r3k here

r3k for OP


but for real, solid advice.

 

not *directly* involved....just our tax dollars

 

They were sent there only to be returned as a "investment" in FTX.

 

Your tax dollars were pre spent 20 years ago, relax. These are my great grandkids tax dollars we are spending now.

 

I knew I liked you.

 

You figure Russia should be able to hit their fucking target. I wonder if they got a deal on Iraqi scuds after the last war? lol

 

bought the missles off wish.com lol

 

Looks like it. Call me crazy but one of my prerequisites for a missile system would be the ability to aim the fucking thing. lol

 

Priced in

 

hahahaha I would think the same thing. Looks like the chip shortage isnt just hitting auto manufacturers hard.