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<ul class="news-points">
 <li>BlockFi completes FTX claims sale, ensuring 100% recovery for eligible customer and creditor claims. </li>
 <li>BlockFi partners with Coinbase for final in-kind distributions, enhancing customer recovery process.</li>
 <li>Hedge fund Diameter Capital profits from FTX claims, surpassing initial return expectations. </li>
</ul>
BlockFi, the defunct crypto lender, has achieved a major milestone in its bankruptcy proceedings by <a href="https://www.prnewswire.com/news-releases/blockfi-plan-administrator-announces-claims-sale-and-full-customer-recovery-302203082.html" target="_blank" rel="noopener noreferrer nofollow">selling its FTX claims at a substantial premium</a>. This sale paves the way for a full recovery of eligible customer and general unsecured creditor claims.
Mohsin Y. Meghji, BlockFi’s Plan Administrator and Managing Partner of M3 Partners, detailed the development in a report to the United States Bankruptcy Court for the District of New Jersey. The transaction, which closed on July 10, was executed at a premium to the face value of the FTX claims. This sale is expected to facilitate a near-term final distribution to <a href="https://coinedition.com/bankrupt-crypto-lender-blockfi-initiates-first-round-of-customer-reimbursements/" rel="noopener noreferrer nofollow">BlockFi’s creditors</a>.
In March 2024, BlockFi reached a settlement with FTX and Alameda Research, securing $874.5 million in claims against the bankrupt entities. The Plan Administrator initiated a sale process on June 24, culminating in the acceptance o…
The post <a href="https://coinedition.com/how-blockfi-achieved-full-recovery-for-customers-a-bankruptcy-success-story/" rel="noopener noreferrer nofollow">How BlockFi Achieved Full Recovery for Customers: A Bankruptcy Success Story</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

How BlockFi Achieved Full Recovery for Customers: A Bankruptcy Success Story

Coin Edition

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