FTX, Alameda reaches ‘in principle’ settlement with BlockFi, paying $874M
The bankrupt crypto companies have resolved their disputes for nearly $1 billion, which could lead to full recovery for BlockFi’s customers.
Bankrupt crypto firms BlockFi and FTX have reached an “in principle” agreement to settle their disputes, with FTX agreeing to pay up to $874.5 million to BlockFi and drop its claims against the f, according to a March 6 court filing.
Terms of the settlement are subject to approval by U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware.
The settlement would resolve BlockFi’s claims against FTX, totaling approximately a billion dollars, and will also see FTX waive "millions of dollars of avoidance claims and other counterclaims" against BlockFi.
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