BlockFi Seeks Court Approval to Convert Users’ “Trade-Only” Wallet Assets to Withdrawable Stablecoins

Bankrupt crypto lender BlockFi has filed a motion for order in the US bankruptcy court for the District of New Jersey, seeking permission to convert "trade-only" wallet assets into stablecoins, “that wallet users could then withdraw.” According to the proposal, these assets comprise less than one-half of a percent (0.5%) of all wallet addresses of BlockFi users in the US. The assets include Algorand (ALGO), Bitcoin Cash (BCH), and Dogecoin (DOGE).... Read More: BlockFi Seeks Court Approval to Convert Users’ “Trade-Only” Wallet Assets to Withdrawable Stablecoins