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BlockFi Plans to Cancel Emergent Fidelity Technologies’ Bankruptcy

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It is reported that BlockFi proposed to cancel the bankruptcy case of Emergent Fidelity Technologies on Thursday. Emergent is an Antigua shell company with 90%…

BlockFi Plans to Cancel Emergent Fidelity Technologies Bankruptcy

It is reported that BlockFi proposed to cancel the bankruptcy case of Emergent Fidelity Technologies on Thursday. Emergent is an Antigua shell company with 90% shares owned by SBF, with 56 million shares of Robin Hood (HOOD) and some cash. BlockFi believed that Emergent’s Antigua liquidator applied for bankruptcy protection in the United States, which made the situation more complicated.

BlockFi seeks to withdraw the bankruptcy lawsuit of SBF’s shell company holding Robin Hood shares

Interpretation of the news:


BlockFi, a cryptocurrency lending and trading platform, proposed canceling the bankruptcy case of Emergent Fidelity Technologies, an Antiguan shell company that owns 90% of SBF’s shares along with some cash and 56 million shares of Robin Hood. Emergent’s Antiguan liquidator applied for bankruptcy protection in the United States, which complicated the situation.

BlockFi believes that the application for bankruptcy protection in the United States makes the situation more complicated for Emergent Fidelity Technologies. Since the liquidator applied for bankruptcy protection in the United States, it opened up new legal avenues that could lead to more delays and complicated processes for both Emergent Fidelity Technologies and the liquidator.

Emergent Fidelity Technologies is a shell company that has no real business operations or assets of its own. Instead, it is used as a vehicle for owning other companies or assets. It owns 90% of SBF’s shares, Robin Hood shares, and some cash.

BlockFi may have a vested interest in the outcome of this case, as SBF is a significant shareholder in the digital currency platform. Moreover, if Emergent’s bankruptcy case is canceled, it can potentially benefit both BlockFi and SBF, as it would simplify their business relationship while also preventing any delays or complications for either party.

In conclusion, BlockFi proposing to cancel the bankruptcy case of Emergent Fidelity Technologies is a notable development that could potentially have ripple effects for SBF and other stakeholders. Cancelling the bankruptcy case could prove beneficial for all parties involved, as it would simplify the legal process and prevent any further delays or complications.

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