The post BlockFi Commits to Customer Repayment as Judge Kaplan Extends Support appeared first on Coinpedia Fintech News
Good news: BlockFi customers, the cryptocurrency lending platform, face financial troubles. A U.S. Bankruptcy Court in New Jersey has given the thumbs up to BlockFi’s plan to repay its customers. This means there’s hope that people who are owed money might start seeing some of it by the end of this year, as reported by Bloomberg.
The green light for the liquidation plan came from Judge Michael Kaplan, who expressed his support for BlockFi’s proposal. The plan had the backing of a committee representing customer interests and supporting creditors. BlockFi had argued against FTX and Three Arrows Capital (3AC) receiving the funds they requested in bankruptcy court documents filed in August.
According to sources, Kaplan gave the green light to BlockFi’s third amended Chapter 11 plan during a September 26, 2023, hearing. The approval for the liquidation plan ca
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