Summary
BlockFi and FTX have agreed to settle all litigation and disputes, with BlockFi receiving $185.2 million as a customer claim and a total of around $900 million being distributed. The settlement is subject to court approval and marks a significant development in the long-running legal process.
Key Points
1. BlockFi and FTX have reached a tentative agreement to settle all litigation and disputes, with BlockFi receiving $185.2 million as a customer claim against FTX debtors.
2. The total settlement amount is around $900 million, with only $250 million secured, and distributions for other claims will be based on the FTX plan.
3. FTX will waive settlement claims against BlockFi, and BlockFi will support the FTX plan, leading to an excellent outcome for BlockFi and its customers.