Bankrupt crypto lender BlockFi says claims against FTX, Alameda and others will make a difference 'in excess of $1 billion' to clients and creditors waiting for their money back. iamsandali reports
In its wind-down plan filed to the U.S. Bankruptcy Court for the District of New Jersey, BlockFi said"the success or failure" of litigation supporting these claims"will make a difference of in excess of $1 billion" to clients waiting for their money back.
The plan also set out a list of projected recoveries, including liquidation of around $1.06 billion in BlockFi Inc. Interest Account Claims, $216 million in BlockFi Lending LLC Private Client Account Claims and $371 million in BlockFi International Ltd. Private Client and Interest Account Claims – though recoveries eventually received by clients"may differ materially" from projected figures.
"While recoveries will be based on a number of factors, the largest driver of higher recoveries are our claims against Alameda and FTX," the firm
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