Crypto lender BlockFi gets court nod to repay customers
The approval is seen as a milestone moment for BlockFi's over 100,000 creditors, who have been long awaiting repayment. The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan. Bankruptcy Judge Michael A. Kaplan approved BlockFi's third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the same day shows. Sept. 26 court filing in the bankruptcy case of BlockFi. Source: Kroll The amount of repayment received by BlockFi's unsecured creditors will largely depend on whether BlockFi succeeds in its legal battle against FTX and other bankrupt cryptocurrency firms. BlockFi's liquidation plan was approved after the firm settled a long-fought dispute with the creditors committee over the company’s senior management. The now bankrupt lending platform blamed FTX's collapse for its own failure despite the creditor's committee c...