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FTX and BlockFi bankruptcies spook Visa and Mastercard

The downfalls of major firms like FTX and BlockFi have led Visa and Mastercard to postpone a number of crypto-related products and services.

Unredacted document shows $1.2B in BlockFi assets linked to SBF

Financials published by mistake showed that BlockFi has over $1.2B tied to FTX and Alameda — way more than the $1.02B previously claimed.

Alongside the $275 million from FTX, BlockFi is also owed $54 million from bitcoin miner Core Scientific — but it hasn’t called in that debt.

Core holds 24 bitcoin and $26.6M in cash but has more than $1B in outstanding liabilities, including an $80M loan from BlockFi.

BlockFi says it no longer invests in GBTC as a corporation at all and is merely working on settling some loans that used GBTC as collateral.