BlockFi Lost Over $1 Billion in Loans to Alameda Before Its Collapse

BlockFi CEO details loans to Alameda, believed hedge fund was solvent based on balance sheets.

BlockFi lent over $1B to Alameda by May 2022, started asking for money back after Terra collapse.

Alameda repaid loans, took out new $850M before its collapse.

BlockFi reviewed Alameda's paperwork, had $800M-$850M outstanding loans before demise.

BlockFi lost over $1B from FTX/Alameda, forced into bankruptcy weeks after collapse.