According to TechFlow, on July 26, according to Finance Feeds, the bankrupt cryptocurrency lending company BlockFi was approved by the New Jersey Bankruptcy Court and plans to repay 100% of customer funds. The U.S. Bankruptcy Court for the District of New Jersey approved the plan on July 26. The company expects that the distribution of assets for U.S. customers will begin within 90 days, but international customers may face a longer wait.

The bankrupt cryptocurrency lending company sought court approval to monetize its $874.5 million claim against FTX, an amount far above par. Earlier news, BlockFi reached an $874.5 million principle settlement with FTX and the Alameda Research estate, enabling the plan administrator to begin planning subsequent distributions to creditors.