Summary
TLDR: BlockFi reaches a beneficial agreement with FTX, allowing them to pursue full value of loans and assets while waiving clawback claims. An excellent outcome for BlockFi’s customers and creditors.
Key Points
1. BlockFi has reached a result with the assistance of Judge Goldblatt that allows for the full value of loans to Alameda and assets on the FTX exchange to be claimed.
2. The agreement waives “clawback” claims by FTX that could diminish BlockFi’s claims, providing BlockFi with a partially secured claim.
3. This outcome is considered an excellent result for BlockFi’s customers and creditors, as stated by Kenneth Aulet, partner at Brown Rudnick, which represented the Committee of Unsecured Creditors.