BlockFi’s Revised Liquidation Plan Approved by US Bankruptcy Court!
The post BlockFi’s Revised Liquidation Plan Approved by US Bankruptcy Court! appeared first on Coinpedia Fintech News
Cryptocurrency lending platform BlockFi has been given the green light to begin repaying customers in line with an amended liquidation plan following its bankruptcy filing. The US Bankruptcy Court in New Jersey approved the firm’s revised Chapter 11 plan, which previously drew objections from FTX Debtors and the US Securities and Exchange Commission. The firm said unsecured creditors could receive payouts ranging from 35% to 63% of owed amounts, with certain creditors paid in Bitcoin or Ethereum. Some FTX creditors allege BlockFi CEO Zac Prince knew of the exchange’s financial troubles leading up to its collapse.
