🎉 Exciting News Alert! 🎉 BlockFi is making moves in the crypto world! 🚀
🟢 The bankrupt crypto lender, BlockFi, is shaking things up by filing a motion for order in the US bankruptcy court for the District of New Jersey. They want to convert those “trade-only” wallet assets into stablecoins that users can actually withdraw. How cool is that? 💰💸
🔔 Only a tiny fraction (0.5%) of all BlockFi users’ wallet addresses in the US are affected by this proposal. These assets include Algorand (ALGO), Bitcoin Cash (BCH), and everyone’s favorite meme coin, Dogecoin (DOGE). 🐶🚀
➡️ In simpler terms, these trade-only tokens are up for grabs on different markets but are not available for withdrawal due to disabled wallets. BlockFi aims to change all that with a one-time exchange for stablecoins like Gemini Dollar (GUSD). Time to unlock that value! 🔑💎
🔴 BlockFi acknowledges the limitations users face in accessing these assets and hopes this exchange will make the withdrawal process smoother. Let’s make it easier for everyone to enjoy their crypto gains! 💪💵
🟢 And don’t worry, if you’re holding onto assets like Cardano (ADA), Solana (SOL), Avalanche (AVAX), Polygon (MATIC), and others, they are safe and sound with BlockFi International. 🌐💼
💬 This move by BlockFi is a game-changer, allowing for a seamless withdrawal process for all wallet assets. Let’s embrace the future of crypto together! 🌟💫