BlockFi filed a legal action against Emergent Fidelity Technologies, the holding company for SBF, to recover the collateral

BlockFi, a crypto lending platform, has begun legal proceedings against Emergent Fidelity Technologies, a SBF holding company, seeking to recover collateral, BlockBeats reports. The lawsuit alleges that Emergent Fidelity, as the escrow agent under the pledge agreement, held the collateral belonging to BlockFi and that Emergent failed to fulfill its obligations under the pledge Agreement to timely deliver the collateral to BlockFi.