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Court approves BlockFi's repayment plan for customers

Court approves BlockFi’s repayment plan for customers

BlockFi’s liquidation plan has been approved by a United States Bankruptcy Court in New Jersey, bringing the cryptocurrency lending platform one step closer to repaying its 100,000-plus creditors. The amount of repayment received by creditors will depend on BlockFi’s legal battle against FTX and other bankrupt cryptocurrency firms. The company’s liquidation plan was approved after settling a dispute with the creditors committee over senior management. BlockFi owes up to $10 billion to its creditors, including $1 billion to its three largest creditors and $220 million to Three Arrows Capital.

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