You want the good news or bad news first?

Good news is BlockFi, unlike FTX, isn't racking up millions of dollars in legal fees to pay John Ray III and his expensive team.

The bad news is, BlockFi's bankruptcy is a bit of a joke. It always is, with Chapter 11, in that the little guys never get anything back.

Not that long ago, I got an email from BlockFi, cheeringly announcing my account was eligible for withdrawal. Great. Except it wasn't great.

I've got around $280 worth of stuff on BlockFi, none of which is actually eligible for withdrawal. The only amount that is is $0.69 worth of some stablecoin whose name I can't even remember.

And that's not my money, that's an airdrop of some sort. And in order to withdraw $0.69 out of a possible $280, BlockFi is charging a $11 fee.

And there's more, BlockFi has discontinued app support. As in, the app doesn't exist anymore, it's desktop only.

Out of the frying pan into the (dumpster) fire, huh?