BlockFi CEO Zac Prince Accused of Fraud, Dishonesty, Incompetence and Gross Mismanagement
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BlockFi’s Unsecured Creditors’ Committee (UCC) has initiated court proceedings accusing BlockFi CEO Zac Prince for defrauding customers and engaging in excess while delaying a way forward. The UCC filed papers with the US New Jersey District Court today accusing Prince and BlockFi of undue excess through their debtors’ exclusivity motion. CEO Zac Prince and Colleagues Accused of Self-Enrichment The exclusivity motion granted BlockFi management permission to lead internal bankruptcy management because of their knowledge of the company. The committee argues that BlockFi’s Motion will not lead to a “principled or swift conclusion.” Instead, it appears to enrich BlockFi insiders at
The proceeds of the credit facility are intended to be contractually subordinate to all client balances, according to BlockFi CEO Zac Prince FTX-associated Alameda Research previously provided $500... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go to Source Author:…
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to... [[ This is a content summary only. Visit my website for full links, other content, and…
Zac Prince, CEO and Co-founder of BlockFi. Source: a video screenshot, Youtube, Bitcoin Archives Get your day by day, bite-sized digest of cryptoasset and blockchain-related information –... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go to Source Author:…