BlockFi reaches tentative agreement with FTX, may recoup nearly $900 million from FTX and Alameda
According to court documents filed on Wednesday afternoon local time, BlockFi and FTX have reached a temporary agreement to settle all litigation and disputes, which also involves associated debtors and is still pending court approval, but represents a significant step forward in the long legal process after FTX's collapse.
As part of the plan, BlockFi will receive $185.2 million as a claim from its clients against FTX debtors, and will receive a separate claim of $689 million against Alameda, including previous loans, for a total amount of about $900 million, but only $250 million is guaranteed. BlockFi bankruptcy plan administrator Mohsin Meghji wrote in the document: "BlockFi ensures that it will receive $250 million shortly after FTX's plan is confirmed and effective - before the general unsecured claims against FTX begin to be distributed, which may allow for a second interim distribution in the short term."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Thailand seizes 63 illegal crypto mining rigs that stole over $327k in electricity
Crypto Sniper Incurs $465K in Losses on $XZY Token within 1 Hour
Expert Says Holding Just 1,000 XRP Could Be the Best Financial Decision of Your Lifetime
Chinese Analyst Assesses Ethereum’s Status, Says “Whales Have Run Out of Purchasing Power” – Here’s What He Expects
Chinese cryptocurrency analyst phenomenon Murphy evaluated the latest status of Ethereum in his statement. Here are the details.
Trending news
MoreCrypto prices
More








