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BlockFi closes web platform and partners with Coinbase to allow withdrawals

Published date:

February 2, 2026

BlockFi closes web platform and partners with Coinbase to allow withdrawals

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As stated by BlockFi, "As the window to request a withdrawal the initial round of eligible estate funds using the BlockFi platform has closed, BlockFi will be working closely with Coinbase..."

Defunct crypto lender BlockFi has decided to shut down its web platform and has nominated Coinbase as its distribution partner.

In a recent blog post, BlockFi disclosed the impending shutdown of its web platform in May 2024. Besides requesting users to download their transaction histories, tax forms, and other essential data beforehand, the lender revealed that it has partnered with Coinbase to facilitate easy access to their crypto holdings.

BlockFi will be working closely with Coinbase to enable the following: (1) Clients will be provided with further details via account email on file, including instructions necessary to create an account on Coinbase.
— BlockFi (@BlockFi) May 9, 2024

As such, users with BlockFi Interest Accounts (BIA) and retail loans will receive instructions via emails on how to access their crypto holdings on Coinbase. For crypto-eligible clients who missed the withdrawal deadline, BlockFi will provide in-kind distributions accessible through open and approved Coinbase accounts. The lender also highlighted that failure to create the accounts could lead to the conversion of assets into cash.

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BlockFi emphasized that all official communications will occur through email, social media, and authorized partners like Coinbase and Kroll. The firm stressed that it will not engage with other providers for crypto distributions, cautioning clients against potential scam attempts.

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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