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TechFlow reports that on August 29, cryptocurrency lending platform BlockFi filed a request with the court to convert users' trade-only assets into stablecoins, enabling users to withdraw these funds.
BlockFi proposed converting Algorand (ALGO), Bitcoin Cash (BCH), and Dogecoin (DOGE) into GUSD or other stablecoins, with the amount of such trade-only assets not exceeding 0.5% of all U.S. wallet assets held by BlockFi users.
On August 29, cryptocurrency lending platform BlockFi filed a request with the court to convert users' trade-only assets into stablecoins, enabling users to withdraw these assets. BlockFi proposed converting Algorand (ALGO), Bitcoin Cash (BCH), and Dogecoin (DOGE) into GUSD or other stablecoins. The amount of these trade-only assets does not exceed 0.5% of all U.S. wallet assets held by BlockFi users.
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