TechFlow news — cryptocurrency lending firm BlockFi has released financial statements today detailing the impact of a loan from FTX in June last year on its 13 executives. The equity held by BlockFi executives decreased by $800 million, with founder and CEO Zac Prince's equity value dropping by $413 million. In compensation, Prince received a salary increase of between $250,000 and $400,000, while other executives received raises of up to $560,000.
The filing states that no member of BlockFi’s management team withdrew any cryptocurrency from the platform after October 14 of last year, with the management team accounting for only 0.15% of the full-year retail withdrawals totaling $7.7 billion. However, the documents still reveal significant executive withdrawals, including over $9 million withdrawn by Zac Prince in April to cover U.S. federal and state tax obligations, and an additional withdrawal of over $870,000 in August. Most transaction data remains anonymous, and the court will consider next week whether to disclose creditor information.Original link
