BlockFi victims set to get reimbursed
BlockFi, the troubled crypto lender, progresses towards repaying its clients as the U.S. bankruptcy court in New Jersey conditionally approves its disclosure statement. BlockFi’s efforts to reorganize and refund its clients have taken a positive step forward with the conditional approval of its disclosure statement by the U.S. bankruptcy court in New Jersey. Mark Renzi, the сhief restructuring officer of BlockFi’s parent company Berkeley Research Group, expressed confidence in the plan, aiming to expedite the return of crypto assets to the affected clients. However, the development has seen several roadblocks, as certain parties have opposed the bankruptcy plan. You might also like: Court directs BlockFi to retract chapter 11 reorganization plan The disgraced Sam Bankman-Fried’s FTX, Three Arrows Capital (3AC), and Gary Gensler‘s Securities and Exchange Commission (SEC) have contested BlockFi’s proposed bankruptcy plan, raising concerns about ...