United

Story

Hedge

Partner

Coin

<ul class="news-points">
 <li>BlockFi completes FTX claims sale, ensuring 100% recovery for eligible customer and creditor claims. </li>
 <li>BlockFi partners with Coinbase for final in-kind distributions, enhancing customer recovery process.</li>
 <li>Hedge fund Diameter Capital profits from FTX claims, surpassing initial return expectations. </li>
</ul>
BlockFi, the defunct crypto lender, has achieved a major milestone in its bankruptcy proceedings by <a href="https://www.prnewswire.com/news-releases/blockfi-plan-administrator-announces-claims-sale-and-full-customer-recovery-302203082.html" target="_blank" rel="noopener noreferrer nofollow">selling its FTX claims at a substantial premium</a>. This sale paves the way for a full recovery of eligible customer and general unsecured creditor claims.
Mohsin Y. Meghji, BlockFi’s Plan Administrator and Managing Partner of M3 Partners, detailed the development in a report to the United States Bankruptcy Court for the District of New Jersey. The transaction, which closed on July 10, was executed at a premium to the face value of the FTX claims. This sale is expected to facilitate a near-term final distribution to <a href="https://coinedition.com/bankrupt-crypto-lender-blockfi-initiates-first-round-of-customer-reimbursements/" rel="noopener noreferrer nofollow">BlockFi’s creditors</a>.
In March 2024, BlockFi reached a settlement with FTX and Alameda Research, securing $874.5 million in claims against the bankrupt entities. The Plan Administrator initiated a sale process on June 24, culminating in the acceptance o…
The post <a href="https://coinedition.com/how-blockfi-achieved-full-recovery-for-customers-a-bankruptcy-success-story/" rel="noopener noreferrer nofollow">How BlockFi Achieved Full Recovery for Customers: A Bankruptcy Success Story</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

How BlockFi Achieved Full Recovery for Customers: A Bankruptcy Success Story

Coin Edition

Muita 23. heinäk. 2024 julkaistuja artikkeleja

These are the Top Cryptocurrency Picks for H2 2024: Bitcoin, Ethereum, and WW3 Shiba

$4M in Bitcoin Seized from Dark Web To Be Sold by US Govt, Will It Impact Price?

Kaspa’s Price Analysis: This KAS Trend Suggests Bullish Momentum

Crypto super PAC Fairshake becomes largest in US

Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22

Digital Chamber Asks VP Harris for Crypto-Friendly Democratic Shift

Join our free newsletter for daily crypto updates!