Crypto lender BlockFi is blaming its recent bankruptcy on now-infamous Bahama’s-based exchange FTX, citing an unpaid and uncollateralized debt of $ קסנומקס מיליאָן.
However, despite the money owed from Sam Bankman-Fried’s imploding empire, BlockFi also lists more than $1 billion in additional uncollateralized debt to other borrowers and massive amounts of supposedly collateralized debt.
Among this collateralized debt is $54 million from troubled bitcoin mining titan Core Scientific. In its latest Securities and Exchange Commission (SEC) filing, Core claims that, because it’s not paying its loans (the company currently holds only 24 bitcoin and around $26.6 million in cash), its creditors can assume their guarantees and collateral.