Zak Prince, CEO of bankrupt cryptocurrency lender BlockFi, allegedly ignored suggestions from its danger administration group relating to asset lending to Alameda Analysis.

In keeping with a July 14 submitting by the Board of Unsecured Collectors to the New Jersey Chapter Court docket, BlockFi’s danger administration group: report Concerning the “excessive danger” related to the asset lending to Alameda. Prince allegedly dismissed the group’s considerations about BlockFi lending Alameda $217 million by August 2021. The group recommended dangers might come up if the (FTT) used to safe the mortgage must be liquidated.

Learn extra on Cointelegraph