BlockFi Bankruptcy Presentation Deck
The Batching Process (Con't)
BitGo
7
Two times each business day, the Debtors' Financial Operations team would upload
and submit the valid withdrawal request data to BitGo (in the instance of on-
chain digital currency withdrawal requests), and Silvergate (in the instance of ACH
or wire fiat withdrawal requests).
8
If there were sufficient digital assets in the BitGo Custodial Wallets to effectuate the
transfer and withdrawal requests, BitGo would then effectuate such requests by
facilitating the movement of digital assets from the BitGo Custodial Wallet to the
applicable clients external wallets. Depending on the circumstances, this could
happen on the same day as the transfer request. Otherwise, the Financial
Operations team could move additional funds to the BitGo Custodial Wallets in
order to effectuate BIA to Client Wallet Account transfer request and a Wallet
to external wallet withdrawal requests.
Cheela Decl. 1 1 37-39.
Stipulated Facts [Docket No. 842], 1111 58.
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