BlockFi has $355 million in digital assets ‘frozen’ on FTX

• Cryptocurrency lender BlockFi has locked $355 million in digital assets in FTX, a bankruptcy court attorney said. 

• BlockFi filed for bankruptcy this week, shortly after FTX collapsed in early November.

BlockFi, the ailing cryptocurrency lender, has frozen $355 million in digital assets on the FTX platform, the company said in court exchanges. FTX, which was once valued at $32 billion, filed for bankruptcy in Delaware earlier this month. The company had provided BlockFi with a $275 million loan earlier this year and was listed as BlockFi’s second-largest creditor in bankruptcy filings.

BlockFi also has a significant amount of cash tied up in FTX, an attorney for the firm said in a New Jersey court. BlockFi has $355 million in digital assets “frozen” on the platform, according to BlockFi attorney Joshua Sussberg.