Deep Tide TechFlow News, on July 26th, according to Finance Feeds, the bankrupt cryptocurrency lending company BlockFi has been approved by the U.S. Bankruptcy Court in New Jersey to repay 100% of customer funds. The plan was approved by the U.S. Bankruptcy Court in New Jersey on July 26th, with the company expecting asset distribution for U.S. customers to begin within 90 days, but international customers may face longer waits. The bankrupt cryptocurrency lending company sought court approval to monetize an $874.50 million claim against FTX, far exceeding the face value. The court's approval means customers can expect full refunds. In a previous report, BlockFi reached a $874.50 million preliminary settlement with FTX and Alameda Research, enabling the plan administrator to begin planning the distribution to creditors.

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<p>TechFlow News, July 26, according to Finance Feeds, the bankrupt cryptocurrency lending company BlockFi has been approved by the Bankruptcy Court of New Jersey, USA, to repay 100% of customer funds. The U.S. Bankruptcy Court for the District of New Jersey approved the plan on July 26, and the company expects the distribution of assets to U.S. customers to begin within 90 days, but international customers may face a longer wait.</p>
<p>The bankrupt cryptocurrency lending company sought court approval to monetize its claim against FTX for $874.50 million, an amount far exceeding the face value. The court's approval means that customers can expect a full refund. <a href="https://www.techflowpost.com/newsletter/detail_42442.html" target="_blank">Previous reports</a> indicated that BlockFi had reached a $874.50 million settlement in principle with FTX and Alameda Research, enabling the plan administrators to begin planning subsequent distributions to creditors.</p>
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BlockFi receives approval from the U.S. Bankruptcy Court in New Jersey to repay 100% of customer funds.