The U.S. court has approved BlockFi to fully repay customer funds.

The bankruptcy court in New Jersey, USA, on Thursday approved the plan of the bankrupt cryptocurrency lending institution BlockFi, allowing it to repay funds to customers and unsecured creditors. The cryptocurrency lending institution sought court approval to monetize FTX's $874.50 million debt at a significantly higher amount than the face value. The court's approval means that customers can now receive full asset refunds. The company stated that the work of ultimately distributing assets to U.S. customers may begin within 90 days. However, due to regulatory challenges, international customers may need to wait longer.