← BlockFireviewed 2026-10-21 · 20 claims checked
Fact-check findings
What an automated fact-checker found when it re-read BlockFi against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
2 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #15[disputed][awaiting moderator]in section: Bankruptcy Plan Confirmation and 100% Creditor Recovery
“On October 3, 2023, the U.S. Bankruptcy Court for the District of New Jersey confirmed BlockFi's reorganization plan.”
reviewerCourt confirmed BlockFi's reorganization plan on October 3, 2023Multiple independent sources (Bloomberg Law, Cole Schotz, Genova Burns, CryptoSlate quoting BlockFi's own customer email, and the page's own cited Haynes Boone release) consistently place the confirmation hearing/order on September 26, 2023, not October 3, 2023. No source found supports October 3. This appears to be a date error; the October 24, 2023 effective date elsewhere on the page is correctly sourced and unaffected.Proposed correction (not yet applied)On September 26, 2023, the U.S. Bankruptcy Court for the District of New Jersey confirmed BlockFi's reorganization plan. - #16[disputed][awaiting moderator]in the timeline
“U.S. Bankruptcy Court, District of New Jersey, confirms BlockFi's reorganization plan.”
reviewerCourt confirmed BlockFi's reorganization plan on October 3, 2023 (timeline)Same underlying date error as the section-6 finding above; the timeline's stored date value of 2023-10-03 should be 2023-09-26. Note: quoted_text here is the event text (used to anchor location) since the field being corrected is the date, not the event prose.Proposed correction (not yet applied)2023-09-26
unverifiable
2 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #17[unverifiable][awaiting moderator]in section: Bankruptcy Plan Confirmation and 100% Creditor Recovery
“Distributions to U.S. customers in the Convenience Class (claims under $3,000) commenced in February 2024 at a flat 50% cash payout pending further asset recovery.”
reviewerDistributions to U.S. customers in the Convenience Class commenced in February 2024 at a flat 50% cash payoutThe 50% Convenience Class rate is well documented, but no source consulted confirms a specific February 2024 start date for these payouts; court docket references (e.g., Docket #2161, Feb 28, 2024) discuss different estate-level recovery percentages, not the Convenience Class payout date specifically. Not disputed outright, but not independently confirmable with available sources. - #20[unverifiable][awaiting moderator]in section: Bankruptcy Plan Confirmation and 100% Creditor Recovery
“This outcome was managed across multiple jurisdictions including the United States, Bermuda, and Antigua by law firm Haynes Boone.”
reviewerThis outcome was managed across multiple jurisdictions including the United States, Bermuda, and Antigua by law firm Haynes BoonePlausible given BlockFi International's Bermuda domicile, but not independently spot-checked against the Haynes Boone release text for the specific mention of Antigua; left unverifiable rather than guessed.
partially supported
2 claimsThe cited evidence supports part of the claim but not all of it.
- #3[partially supported][awaiting moderator]in section: Background and Founding
“The company raised $1.6 million in a seed round led by ConsenSys Ventures in 2018”
reviewerBlockFi raised $1.6 million in a seed round led by ConsenSys Ventures in 2018ConsenSys Ventures as lead and the 2018 timing are corroborated, but contemporaneous reporting puts the amount at $1.5-1.55M rather than $1.6M; the figure is within normal rounding variance across sources, not a clear error. - #19[partially supported][awaiting moderator]in section: Bankruptcy Plan Confirmation and 100% Creditor Recovery
“On September 6, 2024, the plan administrator announced that all allowed creditor claims would receive 100% recovery, with total distributions exceeding $1 billion.”
reviewerSale of FTX claims closed July 2024 at a premium above face value, enabling full recovery; Sept 6 2024 100% recovery announcement, total distributions exceeding $1 billionThe 100% recovery figure and September 6, 2024 date are corroborated by the PR Newswire release (the plan administrator's own announcement), but the specific '$1 billion' total-distributions figure traces back to a self-description in Haynes Boone's own press release rather than an independent court filing or neutral outlet; treat the overall figure as credible but sourced mainly to an interested party.
confirmed
14 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in section: Background and Founding
“BlockFi was founded in 2017 by Zac Prince and Flori Marquez and headquartered in Jersey City, New Jersey.”
reviewerBlockFi founded 2017 by Zac Prince and Flori Marquez, HQ in Jersey City, NJStandard, widely corroborated biographical fact. - #2[confirmed][no action needed]in section: Background and Founding
“prior to founding BlockFi, he held business development roles at AdMeld (acquired by Google), Sociomantic Labs (acquired by DunnHumby/Tesco), Orchard Platform, and Zibby”
reviewerZac Prince's pre-BlockFi roles were at AdMeld, Sociomantic Labs, Orchard Platform, and ZibbyMatches independently sourced biographical summaries of Zac Prince. - #4[confirmed][no action needed]in section: Background and Founding
“by March 2021 had reached a $3 billion valuation after closing a $350 million Series D funding round”
reviewerBy March 2021 BlockFi reached a $3 billion valuation after a $350 million Series DMatches cited source precisely. - #5[confirmed][no action needed]in section: SEC and State Regulator Settlement ($100 Million, February 2022)
“On February 14, 2022, the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) jointly announced a $100 million settlement with BlockFi Lending, LLC.”
reviewerSEC/NASAA $100M settlement Feb 14, 2022, charges, and terms as describedFully corroborated by the primary regulatory source; all cited figures and charge characterizations match. - #6[confirmed][no action needed]in section: SEC and State Regulator Settlement ($100 Million, February 2022)
“The company also committed to registering a new compliant lending product, designated BlockFi Yield.”
reviewerBlockFi committed to registering a new compliant lending product designated BlockFi YieldThe SEC press release itself does not name the product, but contemporaneous reporting (The Block, Decrypt) confirms BlockFi announced it as 'BlockFi Yield.' - #7[confirmed][no action needed]in section: Three Arrows Capital Exposure (June 2022)
“CEO Zac Prince stated that BlockFi 'fully accelerated the loan and fully liquidated or hedged all the associated collateral,' and BlockFi's chief risk officer noted the firm was among the first lenders to take action against 3AC.”
reviewerBlockFi liquidated a large client (reported as 3AC) in June 2022; Zac Prince quote and CRO 'first lenders' characterizationQuote is exact; the 'among the first lenders' characterization is corroborated by other contemporaneous reporting (FT via The Block) even though not found verbatim in the specific cited CoinDesk article. - #8[confirmed][no action needed]in section: FTX Bailout and Acquisition Option (July 2022)
“The credit facility was subordinate to all client funds.”
reviewerFTX extended $400M revolving credit facility in July 2022, option to acquire for up to $240M, facility subordinate to client fundsSubordination detail is not in the page's own cited Davis Polk source but is confirmed by independent contemporaneous reporting (Decrypt, Bloomberg). - #9[confirmed][no action needed]in section: FTX Bailout and Acquisition Option (July 2022)
“At the time of BlockFi's bankruptcy filing in November 2022, approximately $275 million of the credit facility had been drawn.”
reviewerAt BlockFi's November 2022 bankruptcy filing, approximately $275 million of the FTX credit facility had been drawnFigure corroborated by multiple outlets covering the bankruptcy petition. - #10[confirmed][no action needed]in section: FTX Collapse and BlockFi Bankruptcy (November 2022)
“BlockFi suspended withdrawals and platform activity on November 10, 2022.”
reviewerBlockFi suspended withdrawals/platform activity Nov 10, 2022, following FTX's collapseDate confirmed by a state regulator's release; this predates FTX's formal Chapter 11 filing but follows the public unraveling of FTX that began around Nov. 6-8, 2022, so 'following FTX's collapse' is defensible even though it precedes the formal filing mentioned elsewhere on the page. - #11[confirmed][no action needed]in section: FTX Collapse and BlockFi Bankruptcy (November 2022)
“FTX filed for Chapter 11 bankruptcy on November 11, 2022.”
reviewerFTX filed for Chapter 11 bankruptcy on November 11, 2022Widely corroborated, uncontroversial date. - #12[confirmed][no action needed]in section: FTX Collapse and BlockFi Bankruptcy (November 2022)
“On November 28, 2022, BlockFi filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court, District of New Jersey, listing more than 100,000 creditors.”
reviewerBlockFi filed Chapter 11 on Nov 28, 2022 in District of New Jersey, listing more than 100,000 creditorsMatches multiple contemporaneous reports. - #13[confirmed][no action needed]in section: FTX Collapse and BlockFi Bankruptcy (November 2022)
“CEO Zac Prince later testified in the criminal trial of Sam Bankman-Fried that BlockFi would not have gone bankrupt had it not lost access to its funds held at FTX.”
reviewerZac Prince testified in SBF's criminal trial that BlockFi would not have gone bankrupt had it not lost access to funds at FTXCorroborated by direct trial coverage. - #14[confirmed][no action needed]in section: Silicon Valley Bank Exposure (March 2023)
“During bankruptcy proceedings in March 2023, it was revealed that BlockFi held approximately $227 million in uninsured funds in a money market mutual fund (MMMF) offered through Silicon Valley Bank (SVB), which was seized by California regulators on March 10, 2023.”
reviewerBlockFi held ~$227M in uninsured MMMF funds at SVB, disclosed during March 2023 bankruptcy proceedings, same day as SVB's seizureMatches cited source and independent coverage (Bloomberg Law, Benzinga). - #18[confirmed][no action needed]in section: Bankruptcy Plan Confirmation and 100% Creditor Recovery
“In March 2024, BlockFi's plan administrator reached a settlement with FTX, securing $874.5 million in claims against FTX and its affiliate Alameda Research.”
reviewerMarch 2024 settlement with FTX/Alameda securing $874.5 million in claimsMatches independent reporting precisely, including figure and month.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.