{"id":11377,"date":"2024-03-07T10:07:42","date_gmt":"2024-03-07T08:07:42","guid":{"rendered":"https:\/\/forklog.com\/en\/blockfi-settles-874-5-million-claims-with-ftx-and-alameda-research\/"},"modified":"2024-03-07T10:07:42","modified_gmt":"2024-03-07T08:07:42","slug":"blockfi-settles-874-5-million-claims-with-ftx-and-alameda-research","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/blockfi-settles-874-5-million-claims-with-ftx-and-alameda-research\/","title":{"rendered":"BlockFi Settles $874.5 Million Claims with FTX and Alameda Research"},"content":{"rendered":"<p>The lending platform BlockFi, currently undergoing bankruptcy proceedings, <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.njb.1094078\/gov.uscourts.njb.1094078.2172.0.pdf\">has reached<\/a> a preliminary agreement to settle claims against FTX and Alameda Research for $874.5 million.<\/p>\n<p>If approved by the court, the firm will distribute funds to its clients. The amount is expected to fully satisfy creditor claims.<\/p>\n<p>FTX will contribute $185.2 million, while $689.3 million will come from its subsidiary, Alameda Research.<\/p>\n<p>Of the total amount, $250 million is secured.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cBlockFi ensures it will receive these $250 million shortly after the confirmation and effectiveness of the FTX plan. This will enable a second distribution in the near term,\u201d<\/em> the court documents state.<\/p>\n<\/blockquote>\n<p>In February 2024, the U.S. bankruptcy court <a href=\"https:\/\/restructuring.ra.kroll.com\/blockfi\/Home-DownloadPDF?id1=MzA1NzgxOQ==&#038;id2=-1\">approved a settlement<\/a> between BlockFi and Three Arrows Capital.<\/p>\n<p>In December 2023, FTX presented a revised reorganization plan. According to the document, assets will be valued at the rate on the bankruptcy filing date\u2014November 11, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The lending platform BlockFi, currently undergoing bankruptcy proceedings, has reached a preliminary agreement to settle claims against FTX and Alameda Research for $874.5 million. If approved by the court, the firm will distribute funds to its clients. The amount is expected to fully satisfy creditor claims. FTX will contribute $185.2 million, while $689.3 million will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1300,1436,1162,1236],"class_list":["post-11377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-bankruptcy","tag-blockfi","tag-court-cases","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11377"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11376"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}