BlockFi, currently defunct, intends to close its web platform at the end of the month and partner with Coinbase for distribution services. This move, part of its bankruptcy proceedings, ensures continuous access to withdrawals for account holders.

Customers with a Coinbase account can access their funds in cash, while those without can receive cash directly. BlockFi warns against fraudulent activities and clarifies it has no partnerships for distribution besides Coinbase. The bankruptcy plan administrator may distribute funds via Coinbase and potentially from money recovered from FTX.

Initially planning to halt withdrawals in November 2022 due to uncertainties with FTX, BlockFi later entered bankruptcy, with FTX as a major creditor. Emerging from bankruptcy in October 2023, BlockFi began user payments this year.