Delt.ai Loan due July 8, 2023 : Restructuring Update

109

As one of the creditors, I would like to provide an update on the financial situation based on my records:

  1. Unclaimed Repayments and Interest: Since January 2023, approximately $550,000 in repayments and interest from delt.ai remain unclaimed. These funds are currently held at the following address: https://etherscan.io/address/0xb048dcb1262c28add6a3a0022b476db1c466abb6.

  2. Withheld Payments for Legal Fees: Between January and April 2023, Archblock withheld $200,034.25 in repayments, citing the need to reserve these funds for potential legal expenses.

  3. Deducted Fees and Undistributed Funds: From April to July 2024, delt.ai made repayments totaling $226,849. Archblock deducted $180,000 from this amount as their service fee. The remaining $46,849 has not been distributed to creditors.

  4. Missed Interest Payments: Since July 2024, delt.ai has missed three consecutive interest payments.

Over the past six months, we have received minimal updates from Archblock. Despite this lack of communication, Archblock continues to charge us a monthly fee of $15,000. This fee is intended to cover legal and advisory services, but the absence of regular updates and transparency is concerning.

I urge all involved parties to seek clarity and accountability regarding these matters.
@AdL @Monica

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110

Hi @Kevin911,

Thank you for raising these points. I’d like to offer some clarity where I can, although I must note that due to the sensitive nature of certain legal and operational matters, not all details can be shared publicly.

Unclaimed Repayments and Interest:
You are correct—these funds remain in the wallet and will stay there until delt.ai has repaid the loan in full. Once the final repayment is received, we intend to conduct a final reconciliation and potential distribution.

Withheld Payments for Legal Fees:
Also correct. These amounts were held back as a reserve to cover legal costs, which was disclosed at the time.

Deducted Fees and Undistributed Funds:
The team is currently preparing for another distribution, and the remaining amount will be addressed in that process.

Missed Interest Payments:
Two interest payments were made following July 2024. We continue to work closely with delt.ai’s CEO to ensure the remaining obligations are resolved.

Communication and Oversight:
We acknowledge that updates have not been as frequent as many would prefer. There have been changes on the Archblock side over the past year, but the focus has remained on closing out the loan responsibly. We are committed to completing this process with care and diligence.

Thank you again for your continued engagement and patience.

With best regards,
Alex

112

Dear @AdL

Thank you very much for your response. It’s reassuring to know that this matter is still being handled and moving forward.

Regarding your mention of two interest payments made by Delt.ai after July 2024—just to confirm, these payments were not distributed to creditors yet, correct? You mentioned an upcoming distribution—do you have a specific timeline for when that will take place?

Thank you again for the update.

Best regards,
Kevin

113

Hi @Kevin911

yes you are correct, these have not been distributed and the team is working on it. We had hoped to have it down by the beginning of the month but we ran into some delays. It should be within the next 1-2 weeks.

With best regards,
Alex

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114

Hello, Sir @AdL . Is there any latest progress regarding the distribution?

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115

Apologies @Kevin911 I thought I already had answered. The amounts are ready to be claimed and here are the details:

delt.ai loan: May 2025 airdrop claiming instructions

Summary

The airdrop comes in the form of an ERC4626 tokenized vault (0x0a313CD04A3887fbeBAdE88ba01d582113887852), with mints and deposits disabled. This contract has undergone an internal security review and an external audit by ChainSecurity.

Shares of the airdrop are proportional to token holders of the tfUSDC lending pool as of January 9, 2023, the original end date of the delt.ai loan. This includes lenders who farmed their tfUSDC holdings, as well as claimable tfUSDC rewards from the stkTRU contract.

In order to prevent locked funds in the contract, you will have until a deadline of November 23, 2025 to redeem your shares of the interest airdrop.

After this date, TrueTrading will recover the remainder of funds.

NOTE: You may want to wait until gas prices are low before calling the redeem( ) function.

Step-by-step

  1. Check your balance of shares here:

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In this example, the address 0x168151e53210Bbb08Fa6AfAC15E3da185e66069F has a balance of 73,990.677577, which means it can claim 73,990.677577 USDC. There should be six digits after the decimal point.

  1. Connect your wallet to Etherscan on this page by clicking the “Connect to Web3” button as indicated below:
    1600×1229 206 KB

  2. Click, “Contract” and “Write as Proxy”, then call the redeem() function (#9, 0xba087652):

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For shares, enter your balance from #1 (but drop the decimal point and any commas): 73990677577.

For both receiver and owner, enter your wallet address from #1: 0x168151e53210Bbb08Fa6AfAC15E3da185e66069F

  1. Review this transaction carefully, click Write, and then confirm via your wallet.

Support

Please reach out to us if you have a smart contract with claimable airdrop balance, but no ability to call redeem(). If you can prove ownership of the contract, then we may be able to work out a way for you to receive your share.

If you have any questions or need assistance, please contact us at support@archblock.com.

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116

Dear delt.ai loan holders,

we received an update from Angel the group CEO of delt.ai. Please read it carefully and let’s discuss.

With best regards,
Alex

TrustToken Letter, June 2025
TrustToken Letter, June 20251920×2702 282 KB

117

Hi @AdL

Thank you for your ongoing support and for facilitating transparency between Archblock, the TrustToken stakeholders, and albo.

In light of albo’s current fundraising challenges, I would like to suggest that we encourage the company to explore Real World Asset (RWA) tokenized financing as an additional funding avenue. This could help alleviate short-term liquidity pressure while creating longer-term capital flexibility.

Given albo’s existing portfolio of performing, cash-generating loans—particularly in the consumer and SMB segments with impressively low default rates—it seems well positioned to leverage these as on-chain collateral via RWA protocols.

A potential course of action might include:

  1. Evaluating integration with RWA-focused DeFi credit platforms, such as Maple Finance, Centrifuge, or Goldfinch, which provide institutional liquidity against credit-assessed real-world loan pools. The structure would be broadly similar to the company’s previous fundraising on TrueFi.
  2. Initiating a small-scale pilot, selecting a tranche of strong-performing loans to test acceptance on-chain and build a credit history within RWA ecosystems.
  3. Engaging with experienced structuring providers such as Credora or Trident Digital, to support legal structuring, asset tokenization, and protocol onboarding.

While this would not replace traditional equity or debt financing, it may serve as a valuable complement—particularly given the increasingly institutional nature of the RWA space and albo’s existing presence in the crypto-lending domain.

It may be worth encouraging albo to explore this route, even in parallel with current fundraising efforts.

118

Thank you Kevin, I have forwarded your thoughts to the team.

All the best,
Alex

120

Hello, Mr. @AdL . The loan for Albo has been overdue for nearly a month. Could you please let me know if there is any new progress? Thank you very much.

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121

Hello, Sir @AdL , any update for this ? thanks

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122

Hello, Sir @AdL , any update for this ? thanks

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123

What was exactly Archblock’s interests in Delt.ai as an investor and how did Archblock seemingly exit Delt.ai when a vault it managed through its affiliate was in default?

A simple google search found this for me: “Notable Exit inlcuded Delta.ai”

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image940×520 103 KB

124

Hi @Suvicrypto

I am not sure where crunchbase get’s their details from but that is not true. There is no ‘exit’ or even any other connection to delt.ai from Archblock other than the management of the TrueFi loan.

In the meantime here an update in regards to the loan: The debtor is actively making necessary business and financial changes and has reaffirmed its commitment to repaying the loan in full. Recognizing the complexity of this process we are providing the debtor with time to complete these changes and thereafter will work toward a comprehensive payment plan detailing the path to full repayment. We believe this cooperative approach is the most prudent route to securing the maximum recovery for the pool.

With best regards,

Alex

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125

Hi everyone,

I want to take a moment to acknowledge that this thread has served as a long-standing place for updates and discussion related to the delt.ai loan. We understand that many lenders have used this forum to share information and stay informed, and we’ll continue to leave this space open for that purpose.

That said, it’s important to clarify that this situation is a legacy matter. The delt.ai loan and all related restructurings originated prior to the formation of the TrueFi Foundation and are not part of TrueFi’s current operations or roadmap.

The TrueFi Foundation and the contributors working under the current structure are focused on advancing TrueFi’s next phase, building a sustainable, compliant, and community-driven credit layer. While we empathize with the frustrations surrounding legacy positions, these are not under the management or purview of the current TrueFi organization.

Thank you for understanding, and for keeping this space constructive and factual for anyone still referencing historical information.

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126

Hi @Adl ,

I hope you’re doing well.

As one of the major lenders in the delt.ai loan, I’ve been following this thread carefully — especially the recent message from @sebdavies , which seems to redefine how this loan is positioned under the current TrueFi structure.

To ensure clarity for all lenders involved, I’d like to ask a few key questions regarding the current responsibility, administration, and follow-up on this loan.

:one: Interpretation of @sebdavies ’s statement

From his message, it appears that the TrueFi Foundation has officially categorized the delt.ai loan as a “legacy matter”, not under the management or roadmap of the current organization.

  • Should lenders interpret this as a full structural separation, meaning the TrueFi Foundation is no longer responsible for managing, recovering, or communicating about this loan?

  • Does this also mean there will be no further legal or recovery actions pursued by the TrueFi organization regarding delt.ai?

:two: Your current role and affiliation

Could you please clarify your position in relation to this loan?

  • Are you representing Archblock, or another legacy entity such as TrueFi Labs / TrustToken Inc.?

  • Does Archblock remain responsible for ongoing restructuring or recovery activities related to this loan?

:three: Custody of funds and legal entity

  • Who currently holds or manages the funds repaid by delt.ai, including any unclaimed airdrop or reserve balances?

  • Which legal entity was the original counterparty in the delt.ai loan agreement (e.g., Archblock Lending LLC, TrustToken Inc., etc.)?

  • Is that entity still active and operating today?

:four: Future updates and communication

Should lenders still expect periodic updates from Archblock or any other administrator regarding this loan?

Or is this matter now considered fully closed from your side?

Given the significance of this loan position — especially for those of us with large exposure — a clear, factual explanation would be greatly appreciated.

Thank you for continuing to maintain communication and transparency on this legacy position.

Best regards,

Will

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127

Thank you for this clarification, and I think reading through the forum, Archblock has retained control of certain pool management namely the tfUSDC/TruTrading/Delt AI loan (and Alameda Loan). As these were not part of any assignment to the foundation.

Futhermore, the last fees were levied on these were also by for servicing these and it seems that some kind of management agreement is in force:

Having heard from other cases like this, at such a time like this, its probably best for the creditors to gather and seek a meeting amongst themselves for future collective action.

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130

Hello, Sir @AdL , any update for this ? thanks

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133

Hi @AdL @Monica and Archblock team,

As one of the major lenders in the delt.ai loan, I would like to raise two important concerns on behalf of lenders who continue to be affected by this position.

:one: No update from Archblock for several months

There has been no official communication or progress update for a long period of time regarding:

  • restructuring status

  • recovery actions

  • repayment expectations

  • borrower engagement

Given the material size of this loan, we believe lenders deserve clearer visibility into the current situation.

:two: On-chain transfer of lender funds

We have also observed that over USD 800,000 belonging to lenders were transferred to the following address:

0xe32c65998b2c765dee82e0a9697ecca5ccf64d29

After that, the funds appear to have been deposited into Coinbase.

For the sake of transparency, we would like clarification on:

  • the purpose and rationale for this transfer

  • whether these funds remain under Archblock custody

  • whether any portion has been spent, reserved, or reallocated

  • whether a transaction / accounting breakdown will be shared with lenders

:three: Request for a substantive loan status update

In addition, we kindly ask that Archblock provide an update on the delt.ai loan itself, including:

  • current state of negotiations or restructuring

  • whether a repayment plan or concrete timeline exists

  • whether Archblock still intends to actively pursue recovery on behalf of lenders

Given the scale of exposure and the time that has already passed,

we believe continued transparency and factual communication are essential.

We appreciate a clear response to the questions above so that lenders can properly understand the status of this position.

Thank you.

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