BlockFi Settles Claims Against FTX and Alameda Research
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BlockFi has come to a tentative agreement to settle claims against FTX and its subsidiary Alameda for $874.5 million as they prepare to go through bankruptcy.
Pending court approval, the company plans to distribute the funds to creditors, which is expected to fully satisfy their claims.
The settlement includes $185.2 million from FTX and $689.3 million from Alameda Research, with $250 million being a secured claim.
According to court documents, BlockFi is confident it will receive the full $250 million promptly after FTX’s plan is confirmed, allowing for a second distribution in the near future.
This comes after a settlement agreement between BlockFi and Three Arrows Capital was approved by a US bankruptcy court in February 2024.
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