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.
