Block Fi is dead

[Anonymous No.52452035]

https://www.wsj.com/articles/blockfi-prepares-for-potential-bankruptcy-as-crypto-contagion-spreads-11668534824

[Anonymous No.52452055]

>>52452035
blockfi is fine btw

[Anonymous No.52452077]

>>52452035
fuck you, this gay ass clown btc is pathetic, the smallest bit of bad news makes it dump, how is this supposed to be the 'future of finance'?

[Anonymous No.52452082]

>>52452035
-99% APY, awesome

[Anonymous No.52452111]

>>52452035
If they were going bankrupt then why would they push through so many withdrawals yesterday?
I guess we'll know how bad it is soon enough.

[Anonymous No.52452128]

>>52452111
some customer get preferential treatment.

[Anonymous No.52452137]

Thank you in retrospect for banning Americans.

[Anonymous No.52452176]

>>52452077
It was a scam from the very beginning.

[Anonymous No.52452192]

>>52452035
2017 oldfag that sat out this bullrun. What the fuck is defi cefi fi? Is it crypto finance? Like that bancor jew with the kike coin? Who would fall for this?

[Anonymous No.52452204]

>>52452192
Defi = Decentralized Finance

[Anonymous No.52452267]

>>52452035
>paywall article

[Anonymous No.52452275]

>>52452192
CeFi is centralized finances. Banks and shit.
DeFi is replacing banks with smart contracts and blockchain tech that does the same thing as a bank would, but in a decentralized way.
BlockFi is a centralized exchange that also makes a card where you can load crypto into an account and use it as a Visa credit card for normie transactions, with conversion being done by them. They were about to go bankrupt a while back, but the FTX guy bailed them out. Now that daddy Sam can't prop them up anymore, they're crashing down.

[Anonymous No.52452363]

>>52452192
as long as you kept an eye on liquidity pools and activity you were good. smart contract platform not simply break, there is always a prelude nobody talks about

[Anonymous No.52452387]

>>52452035
Good. Old players need to fuck off for new players to enter.

[Anonymous No.52452487]

>>52452192
Defi is cool. Like decentralized lending. Its like a bank except the entire balance sheet of the protocol is transparent, you can see all collateral and debts, everyone is held to the same rules without biased for big players. Liquidates are done constantly by third parties in an unbiased way so the protocol is extremely stable compared to trad banks.

Cefi is like a fake bank pretending to be a cool not-bank just because they support crypto. But its the same bank bullshit. Black box with no transparency into the financial health of the company. Just lies from the company about how super safe their are, while their balance sheet is absolute garbage. Secret back room deals can give big players leniency on getting liquidated and end up underwater which bankrupts everyone. Staggering negligence of managers lead to idiotic malinvestments instead of relying on free market signals like defi.

[Anonymous No.52452651]

>>52452267
Use an addon, Bypass Paywalls.
Cryptocurrency lender BlockFi Inc. is preparing a potential bankruptcy filing after halting withdrawals of customer deposits and acknowledging it has “significant exposure” to bankrupt exchange FTX, people familiar with the matter said.

BlockFi paused withdrawals and limited activity on its platform last week, saying it couldn’t operate business as usual given the uncertainty about FTX. BlockFi is now planning to lay off some of its workers while the troubled firm prepares for a possible chapter 11 itself, people familiar with the matter said.

BlockFi didn’t respond to requests for comment. A bankruptcy filing would make Jersey City, N.J.-based BlockFi the latest casualty of the sudden collapse of Sam Bankman -Fried’s crypto empire, which comprises FTX, FTX US, trading firm Alameda Research and more than 100 affiliated entities.

(More to Come)

[Anonymous No.52452903]

>>52452035
Not paying back my credit debt lol

[Anonymous No.52452934]

>>52452035
kek they're really just staggering all these (((black swans))) to trigger dumps

[Anonymous No.52452958]

Did you really, honestly think that they would just LET you get out of their enslavement system for nothing? Enjoy your bags

[Anonymous No.52453054]

>>52452934
I need more dumps

MORE DUMPS

DAS RITE BOBO-KUN

A HOT DUMP RIGHT ON MY CHEST

[Anonymous No.52453501]

>>52452267
Sorry you’re too fucking poor to afford the Wall Street Journal

[Anonymous No.52454362]

>>52452487
Defi is a literal ponzi scheme(for the most part)

[Anonymous No.52454405]

>>52454362
what part exactly isnt a ponzi in your humble opinion?

[Anonymous No.52454461]

>>52452035
Glad I stayed out of all these APY kike tricks. Not your keys not your coins.

[Anonymous No.52454491]

>>52452035
also: Liquid, Salt. Contagion spreads.

[Anonymous No.52454534]

>>52452077
Because there’s only 21 million of them. That’s it.

[Anonymous No.52454550]

>>52452487
If defi is so good how come defi protocols get hacked/exploited every other week?

[Anonymous No.52454744]

>>52454550
Just because some shitty bridges got hacked does not mean that every big defi project is being hacked every day.

[Anonymous No.52454784]

>>52452035
I thought they already went under in the wake of the terra ust thing

[Anonymous No.52454800]

>>52454550
Which defi projects got hacked? Early on experimental ones sure, but then lessons are learned and security is improved. Or are you talking about shitty scam contracts? Another key advantage of defi - you can read the literal code that governs it.

[Anonymous No.52454840]

>>52454362
lending for interest or providing liquidity for fees is not a ponzi.

vault with burn fees might be. defi is programmable. You can program a ponzi if you want.

[Anonymous No.52455500]

>>52452192
bancor got shilled hard here and many fell the for bancor meme link APY

everyone was out of their mind and be like "crypto is not mainstream adoption and too big to dump back"

also people buying animal shit and nft shit left and right.

[Anonymous No.52456260]

>>52452035
WE FUCKING TOLD YOU SO
>"HAHA I CASHED OUT AT THE TOP AND AM GETTING AN IMPOSSIBLY HIGH AMOUNT OF INTEREST AT [INSERT SHITTY FARMING/LENDING PLATFORM HERE] LOOK AT ME I'M SO SMART" - Some asshole
GET FUCKING REKT