Cryptocurrency lending company BlockFi posted on social media that on January 22, 2024, BlockFi completed the return of cryptocurrencies from its wallet products, returning all requested customer assets in kind to nearly 130,000 customers, with a total value of more than $500 million in cryptocurrencies. Today, BlockFi announced the start of the next round of fund returns. Starting in February, customers of BlockFi's remaining businesses (including BlockFi Interest Accounts (BIA), loan customers, and private customers) will be able to initiate withdrawal requests. To be eligible for distribution, claimants must have an allowed claim, and claimants who have filed a claim but have not yet been coordinated and approved will be eligible after the claim is coordinated. This is the first wave of refunds for these businesses, and BlockFi expects to return 20 to 40% of the allowed claims for eligible customers. BlockFi continues to expect FTX assets to be further recovered and will be distributed to customers after receipt. Withdrawals will be made in batches, and customers eligible for withdrawals will receive an email with specific instructions.