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

Inne artykuły opublikowane 23 lip 2024

New Cryptocurrency Releases, Listings, & Presales Today – Drift, BounceBit, Venom

Crypto Super PAC spends $1.7M on media buys as Arizona primary looms

BNB Chain to Host Second BNB Incubation Alliance at Bitcoin 2024 Nashville (23 Jul)

Crypto super PAC Fairshake becomes largest in US

This English Football Club is Making a Bold Bet on Bitcoin!

Digital Chamber Asks VP Harris for Crypto-Friendly Democratic Shift

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!