newsU.S. judge approves BlockFi’s bankruptcy plan

U.S. judge approves BlockFi’s bankruptcy plan

A document shows that U.S. Bankruptcy Judge Michael A. Kaplan approved BlockFi’s third revised Chapter 11 bankruptcy plan at a court hearing on September 27. The repayment amount received by BlockFi’s unsecured creditors will be significantly higher. The extent depends on whether BlockFi can succeed in its legal battles with FTX and other bankrupt crypto companies.

BlockFi is estimated to owe up to $10 billion to more than 100,000 creditors, including $1 billion to its three largest creditors and $220 million to bankrupt crypto hedge fund Three Arrows Capital.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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