US Client Estate Distribution Status FAQs

What is the current status of estate distributions for US clients?

As of November 27, 2024, distributions have been completed for the majority of US clients, with the exception of clients with holdbacks.

Who has not yet received their estate distribution?

Clients that fall under the following categories have not yet received their estate distributions.

• Accounts with TOS violations
• Accounts with ACH(Automated Clearing House) return issues
• Accounts with compliance flags

All of the above are currently under review, and affected clients will be contacted if additional information is needed.

How do I check the value of my allowed claim(s)?

You may visit the Kroll portal below and follow the prompts to locate your scheduled estate claim information.
https://forms.ra.kroll.com/efiling/fr/claim-lookup/blockfi/new

Clients may have up to 3 separate claims depending on the products you were using. For example, a single client may have one Retail Loan claim and one BlockFi Interest Account claim.

Your claim value was determined by the dollar value of your assets at the time of the platform shut down, in accordance with our Bankruptcy plan approved by the court.

How do I know I received 100% of my scheduled estate claim?

Clients with claims less than $3,000 were automatically in the Convenience Class category per the plan approved by the court. Those clients received a onetime distribution payout of 50% of their total claim value, and will not receive any further distributions. Clients who opted to receive cryptocurrency received this 50% distribution in-kind whereas others received cash.

US Clients that were not a part of the Convenience Class category were eligible to receive a First Interim Distribution and a Final Distribution. Once you have successfully received your First Interim Distribution and your Final Distribution, you will have received 100% of your claim value from the BlockFi estate.

The total amount of the distributions you received should align with your allowed claim value listed on the Kroll register. Below is an explanation of how your First Interim Distribution and your Final Distribution was distributed.

First Interim Distribution

• This is what you were eligible to receive in early 2024. You may have withdrawn this directly from BlockFi before the platform shutdown. If not, you may have received it through Coinbase.
• If you did not withdraw directly from the BlockFi platform and also did not have a Coinbase account with identifying information matching your BlockFi account, you received this distribution in cash via Kroll.
• If you held digital assets that were not available for distribution in-kind as listed in the FAQs, you received this portion of the distribution in cash via Kroll.
• If you are a client who had a Retail Loan claim and paid off your loan through the Optional Loan Repayment Program, the first interim distribution amount listed takes into account your loan repayment amount.

Final Distribution

• If you had a Coinbase account with identifying information matching your BlockFi account, you received it through Coinbase.
• If you did not have a Coinbase account with identifying information matching your BlockFi account, you received this distribution in cash via Kroll.
• If you held digital assets that were not available for distribution in-kind as listed in the FAQs, you received this portion of the distribution in cash via Kroll.

Why did I receive my estate distribution as a combination of digital assets and cash?

If you held digital assets other than BTC, ETH, and Stablecoins (GUSD, USDC, and USDT) on BlockFi, this portion of your distribution was provided in cash via Kroll.

The table below shows the currencies held on BlockFi and their corresponding distribution currencies.

Currency you held on BlockFi	Distribution Currency
BTC	BTC
ETH	ETH
USDC	USDC
GUSD	USDC
USDT	USDC
All Other	Cash (Through Kroll)

Clients who did not have a Coinbase account with identifying information matching identically with their BlockFi account received their Final Distribution entirely in cash via Kroll.

Why did I not receive the full amount of digital assets that were in my BlockFi account?

Pursuant to Section 502(b) of the Bankruptcy Code and the confirmed Plan, all claims were valued in dollars as of the filing date, and all distributions on claims are valued in dollars. As a result, even if you received "in-kind" distributions, you would not receive the same quantity of BTC or ETH as was reflected on your pre-petition account statements from BlockFi.

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