BlockFi Bankruptcy Presentation Deck
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User Col
The True-Up Process
The True-Up Process is a partially manual, multi-step process undertaken by the Debtors' Treasury and Financial
Operations Teams to effectuate client transfer request data collected by the Company-Facing Interface. The True-Up
process occurred once each business day, generally between 9:00 a.m. and 11:00 a.m. (prevailing Eastern time).
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270707
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+
↓
ⒸBlocki
Fully Automated
Email Upon "Click"
of Button on the
User Interface
↓
BlockFi
Employees
4141
+
Transfer
Request
Data
Cheela Decl. 11 40-42.
Stipulated Facts [Docket No. 842], ¶ ¶ 65-66.
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BlockFi
BlockFi clients initiate transfer requests on the User Interface.
Client receives an automated email and User Interface reflects
the book entry for the request.
Data regarding client transfer requests is automatically
collected in the Company-Facing Interface.
The data in the Company-Facing Interface is reviewed by
BlockFi's Treasury team on the business day following clients'
transfer requests. The Treasury team also reviews current
Custodial Omnibus Wallet balances to calculate the digital assets
that are needed to reconcile the Custodial Omnibus Wallets so
that the balances match the transfer request data reflected in
the Company-Facing Interface (the “True-Up Amounts”).
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