Million

Coin

<ul class="news-points">
 <li>BlockFi has reached an in-principle agreement to settle with FTX and Alameda Research.</li>
 <li>FTX and Alameda have agreed to pay up to $874 million to BlockFi, in an attempt to settle the lender’s financial claims.</li>
 <li>The lender will receive $185.2 million regarding asset holdings in FTX and $689.3 million regarding Alameda’s loans.</li>
</ul>
A recent court filing has <a href="https://storage.courtlistener.com/recap/gov.uscourts.njb.1094078/gov.uscourts.njb.1094078.2172.0.pdf" target="_blank" rel="noopener noreferrer nofollow">announced</a> the “successful resolution” of the digital asset lender BlockFi’s financial claims against the bankrupt FTX. Reportedly, the asset lender has reached an “in principle” agreement of nearly $1 billion with FTX and Alameda Research.
According to the court filing, FTX has agreed to pay up to $874 million in a bid to settle BlockFi’s claims. The filing read,
<blockquote class="wp-block-quote">
 BlockFi will receive an allowed customer claim of $185.2 million against FTX.com on account of its assets on the FTX exchange and a claim of $689.3 million against Alameda Research on account of BlockFi’s loans to Alameda Research of which $250 million is entitled to be treated as a secured claim.
</blockquote>
BlockFi was a lender of FTX’s sister firm Alameda Research. During a previous <a href="https://coinedition.com/ftx-and-alameda-behind-blockfis-bankruptcy-sbf-trial-continues/" rel="noopener noreferrer nofollow">trial</a> of FTX founder Sam Bankman-Fried, BlockFi’s for…
The post <a href="https://coinedition.com/ftx-and-alameda-research-to-settle-blockfis-874-million-claim/" rel="noopener noreferrer nofollow">FTX and Alameda Research To Settle BlockFi’s $874 Million Claim</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

FTX and Alameda Research To Settle BlockFi’s $874 Million Claim

Coin Edition

Other articles published on Mar 7, 2024

These Two Popular DeFi Tokens Surged by More Than 200% After Trendline Breakout: Is the Party Over?

SEC Decision on Ether Custody Raises Concerns: CFTC Chairman

Revolut Announces Integration with MetaMask: Details

Ethereum’s Price Surge Followed by High-Value Transfer to Binance

Bitcoin (BTC) Cycle Analysis: Peak at $155,000 by August 2025

EA Pioneers Gaming Future: How Generative AI Is Reshaping Player Experiences

Join our free newsletter for daily crypto updates!