BlockFi Bankruptcy Presentation Deck
The True-Up and Batching Processes
Digital assets only move from Rehypothecateable Wallets to Custodial Omnibus Wallets and
from the BitGo Custodial Wallet to an external wallet via manual intervention by the Debtors'
employees through the True-Up Process and/or Batching Process (whichever comes sooner).
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Illustrative Process to Effectuate a Requested BIA to Wallet Transfer
BlockFi
BlockFi employees review transfer request data from
Employees the prior business day, calculate True-Up Amounts,
and effectuate transfers so that the digital assets in
0000
ITT
the Custodial Omnibus Wallets match request data in
the Company-Facing Interface
BIA
BlockFi employees
review and batch
transfer request
data and upload
request data to
BitGo within 7 days
BlockFi
Employees
0 0 0 0
See Cheela Decl. 1 1 37-42.
See generally Stipulated Facts ¶¶ 51, 53, 56, 57, 58, 62, 64, 65.
True-
Up
(T+1)
Batching
Process
Custodial
Omnibus
Wallets
BitGo
Custodial
Wallets
Client
External
Wallet
BlockFi
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