BlockFi Reveals $1.2 Billion in Assets Tied to FTX and Alameda in Accidental Leak

BlockFi, a crypto lending company that went bankrupt, accidentally released uncensored financial documents which revealed that it had $1.2 billion in assets connected to the bankrupt exchange FTX and the trading firm Alameda Research.

The documents, which were part of a presentation by M3 Partners, an advisor to the creditor committee, showed that BlockFi had $415.9 million worth of assets linked to FTX and $831.3 million in loans to Alameda as of January 14th.

The financials were leaked due to an error on the part of M3 Partners.

As a matter of fact, BlockFi had a document submitted on November 24th in which the creditor committee raised an objection to the company's plan to pay key employees $12.3 million in retention payments, despite the company's limited operations and assets.

The document was supposed to be redacted and the portions that were redacted were said to include "trade secrets or confidential research, development, or commercial information."