The post BlockFi CEO Blames FTX and Alameda for Bankruptcy! appeared first on Coinpedia Fintech News

BlockFi CEO Zac Prince has blamed the collapse of FTX crypto exchange and its sister trading firm Alameda Research for his company’s bankruptcy during his testimony at Sam Bankman-Fried’s criminal trial. Prince stated that he would not have given funds had he known false balance sheets were being used and that BlockFi had a total of $1.1 billion on the exchange. He attributed the bankruptcy of BlockFi to Alameda and FTX and said that BlockFi would not have lent funds to Alameda had it known it was using FTX customer funds. The crypto lender filed for bankruptcy protection in Nov. 2022, shortly after the collapse of FTX.