Summary
BlockFi has reached a settlement with FTX and Alameda Research to potentially recover up to $874 million, benefiting customers impacted by the collapse of these crypto giants in 2022. FTX is making efforts to repay creditors, including BlockFi, by selling assets like its stake in AI firm Anthropic. This agreement could lead to full restitution for BlockFi customers pending judicial approval.
Key Points
1. BlockFi has secured an agreement with FTX and Alameda Research that could result in up to $874 million being returned to its coffers, pending judicial consent.
2. FTX has committed to prioritizing a $250 million payment to BlockFi as part of a larger $874 million settlement to compensate BlockFi for assets held on the FTX exchange and loans extended to Alameda Research.
3. FTX is making efforts to claw back funds, including the sale of its stake in AI firm Anthropic, which is expected to inject approximately $1 billion into FTX’s estate to meet creditor obligations.