BlockFi Approved to Set up Auction for Crypto Mining Assets

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Today’s Cryptocurrency Headline

Bankrupt cryptocurrency lender BlockFi is expected to sell some of its assets after a bankruptcy judge in New Jersey said it would approve the plan. Under a proposal filed in bankruptcy court on Monday, bidders for BlockFi’s mining subassets will have until 20bids to Feb. , with the auction a week later. The sale would be the first in a number of potential auctions, BlockFi’s attorneys told the court.

BingX’s Bitcoin Chart

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According to CoinShare, digital asset investment products saw $117m inflows last week, the largest since July 2022. Bitcoin is down 3.41% over the last 24 hours and fell to an intraday low of $22,500.00. their positions before the FOMC meeting on Feb. 1. The Fed is expected to increase the interest rate by another 25 basis points. If the result aligns with investors’ general expectations, Bitcoin could rebound quickly. However, if the Fed delivers a hawkish view On its monetary policy statement, the BTC/USDT pair could drop to the 20-day EMA ($21,751).

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