BlockFi is yet another firm to have now collapsed thanks to the FTX debacle, and it seems as though depositors will almost certainly not be able to retrieve their funds given that they have been completely wiped out.
Over the course of 2022, anyone using custodial services would have had to have been very lucky to avoid having their finances completely destroyed. Those who held their own Bitcoin may not have lost their assets, but were still forced to contend with significant price declines.
BlockFi held their funds on FTX
After being bailed out by FTX earlier this year, BlockFi agreed that they would custody the coins of their holders with FTX (as part of the terms of the acquisition).
Unfortunately, SBF then decided to embezzle a lot of their customer funds and to lend them to FTX’s sister company, Alameda.
Since the collapse of FTX, it has emerged that BlockFi once again cannot honour redemptions, and the platform has now filed for bankruptcy.
Dash 2 Trade helps traders spot the warning signs at FTX and BlockFi
Dash 2 Trade is a crypto trading and signals platform that helps traders to understand when there could be problems in the market, and to position themselves appropriately.
According BlockFi's bankruptcy filing, the company estimates that they have between $1 billion & $10 billion in assets and liabilities.
Great to see that they have narrowed it down to a reasonable range
— Coin Bureau (@coinbureau) November 29, 2022
Before the collapse of FTX, there were many signs that investors could have easily followed, and Dash 2 Trade’s focus on allowing retail traders to gauge social metrics more easily would have made it simple to recognise that FTX had problems.
By paying a subscription of 400 D2T per month for the starter tier, or 1,000 D2T per month for the professional tier, users of the platform can learn to spot the signs that companies such as BlockFi aren’t to be trusted – one should always remove their funds from centralised platforms such as BlockFi and FTX.
Dash 2 Trade presale has now raised $7.4m
The Dash 2 Trade is now over 50% complete, having successfully managed to raise $7.4m over the course of the last few weeks.
Attention #D2T Crew!
We have just reached another milestone – $7,000,000
⏰ Stage 3 of our presale is selling out fast and the price will increase soon ⏰
— Dash 2 Trade (@dash2_trade) November 25, 2022
Those who wish to participate in the Dash 2 Trade presale can now do so on their website, where it is now live.
The presale is being conducted in a series of stages, meaning that those who participate earlier on will have the opportunity to accumulate tokens at far cheaper prices.
Currently, the D2T token is being sold for just $0.05133, but this will rise to $0.0533 at the next stage of the presale.
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