CandleFocus Blockchain.com execs face court over delayed financial disclosures: report
2024-10-21
Author: Content Editor
Blockchain.com executives, Nicolas Cary and Al Turnbull, are facing legal action in the UK after being charged with failure to file accounts on time. The court proceedings began in September and another hearing is scheduled for November. The charges relate to the company's delayed filing of accounts for the year ending December 2022. Blockchain.com attributes the delay to a restructuring effort and a reduction in workforce. If convicted, the directors could face an unlimited fine. Blockchain.com reached a valuation of $7 billion in 2023 but has since seen its valuation drop following exposure to the collapse of hedge fund Three Arrows Capital.
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