BlockFi, FTX Customers Rekt Again

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In this video, I discuss developments in the BlockFi and FTX bankruptcy proceedings.

A bankruptcy judge has concluded that BlockFi customers lost the rights to their Bitcoin once they deposited them onto the BlockFi platform.

And the IRS has filed claims worth $44 billion against the FTX bankruptcy.

Former customers of BlockFi and FTX will be very lucky to see pennies on the dollar returned to them, after many years of legal wrangling.

We need to do a better job this cycle teaching new Bitcoiners the importance of “not your keys, not your coins.”

Not investment advice! Consult a financial advisor.

Are Bitcoin IRAs Safe?
https://www.youtube.com/watch?v=TByF9SzNPqM&ab_channel=BitcoinUniversity

My warning videos about BlockFi:
https://www.youtube.com/watch?v=SFow3o6EkRw&ab_channel=BitcoinUniversity
https://www.youtube.com/watch?v=3xy11ng9_YE&ab_channel=BitcoinUniversity

My warning video about FTX:
https://www.youtube.com/watch?v=Vl0fXqo8vig&ab_channel=BitcoinUniversity

BlockFi Crypto Customers Lose Fight Over Disputed Coin Transfers:
https://www.bloomberg.com/news/articles/2023-05-11/blockfi-crypto-customers-lose-fight-over-disputed-coin-transfers

U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy:
https://www.coindesk.com/business/2023/05/10/us-internal-revenue-service-files-claims-worth-44-billion-against-ftx-bankruptcy/
https://restructuring.ra.kroll.com/FTX/Home-ClaimInfo

Jameson Lopp tweet:
https://twitter.com/lopp/status/1656429756395528193

Remember the influencers who pushed FTX and BlockFi:
https://twitter.com/udiWertheimer/status/1539669112925855744
https://twitter.com/denverbitcoin/status/1656833228135714819
https://twitter.com/APompliano/status/1592333485083332609
https://twitter.com/BusinessFamous/status/1567976255831801856

Bitcoin Held On Exchanges Hits Five Year Low:
https://www.nobsbitcoin.com/bitcoin-held-on-exchanges-hits-5-year-low/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#blockfi
#ftx

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