BlockFi, the bankrupt crypto lender, is set to commence its first temporary distribution of crypto assets through Coinbase starting in July. This move marks a significant step for BlockFi as it navigates its bankruptcy proceedings and seeks to provide some relief to its clients. By utilizing Coinbase for these distributions, BlockFi aims to streamline the process and ensure a smooth experience for its customers.
However, it is important to note that non-U.S. clients are currently ineligible to participate in these temporary distributions through Coinbase. This restriction is a result of regulatory requirements that BlockFi must adhere to, which may differ between U.S. and non-U.S. jurisdictions. While this may come as a disappointment to some international clients, BlockFi is working diligently to explore options for expanding these distributions to a wider audience in the future.
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