BlockFi Creditors Await Fund Recovery: FTX Clawback in Focus

05/14 09:50

BlockFi, a bankrupt crypto lender, has filed a disclosure statement with the New Jersey court overseeing its insolvency proceedings, bringing its customers one step closer to recovering some of their assets. The company first filed for Chapter 11 bankruptcy protection in November, citing a liquidity crisis created by its exposure to FTX. BlockFi's ability to recover assets for its clients largely depends on its efforts to claw back money from FTX and Alameda. The solicitation process will commence after the company presents its disclosure statement to the court on June 20, and BlockFi's various creditors will be able to vote on whether or not to accept the plan.

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