FTX and Alameda Research Reach Settlement with BlockFi

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Crypto firms BlockFi and FTX, who have filed for bankruptcy, have agreed to settle their disputes with FTX paying up to $874.5 million and dropping its claims against BlockFi.

The terms are subject to approval by the US Bankruptcy Judge and would resolve both companies’ claims against each other.

The settlement includes a $185.2 million claim against FTX.com for the value of BlockFi customer assets held on the exchange and a $689.3 million claim against Alameda Research for loans received from BlockFi.

$250 million of the total sum will be treated as a secured claim, with the remainder being contingent on FTX’s repayment to its own customers and other creditors.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.