CoinVoice has recently learned that according to Finance Feeds, the bankrupt cryptocurrency lender BlockFi has obtained court approval to repay its customers and unsecured creditors. The New Jersey Bankruptcy Court approved the company's plan on Thursday, allowing BlockFi to repay 100% of customer funds. The cryptocurrency lender sought court approval to monetize its $874.5 million claim against FTX at an amount far above face value. The court's approval means that customers can now get a full refund of their assets.
The company said that while asset recovery cannot undo the impact of the financial crisis, "effectively distributing 100% of the claim value to clients in the near future would be a very positive outcome." The company said final distributions of assets to U.S. clients could begin within 90 days. However, international clients may have to wait longer due to regulatory challenges. [Original link]
