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
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto anon Loomdart makes the case for FTX 2.0 to go aheadLoomdart delves into 'FTX 2.0' as a unique opportunity to restore value for FTX creditors.
Read more »
Taylor Swift's financial acumen: avoiding FTX deal, investing in fundsTaylor Swift showed her financial savvy when she avoided a FTX deal. She puts her money in a niche type of fund, an elite investor says.
Read more »
Kelly Clarkson responds to ‘toxic’ workplace claims amid backlash from fans“I love my team at ‘The Kelly Clarkson Show,’ and to find out that anyone is feeling unheard and or disrespected on this show is unacceptable,” she wrote via Instagram.
Read more »
Kelly Clarkson Reacts to Claims Her Talk Show Is Toxic: Read StatementReports surfaced in May that ‘The Kelly Clarkson Show’ had fostered an allegedly toxic work environment behind the scenes — read Kelly Clarkson’s statement
Read more »
Clermont-Ferrand Short Film Fest Protests Funding Cut Amid Claims Move Is Politically MotivatedFrance’s Clermont-Ferrand International Short Film Festival is protesting an unexpected funding cut, amid claims by politicians that the move is politically motivated. The festival learned on Frida…
Read more »