• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
BlockFi

BlockFi Resolves Dispute With FTX And Alameda Research For Nearly $1 Billion

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a significant development, crypto lender BlockFi has reached an “in principle” agreement with the estates of bankrupt FTX and its trading arm Alameda Research to settle nearly $1 billion in claims. 

The settlement, outlined in a recent court filing, marks a pivotal moment for BlockFi’s recovery efforts and its clients’ potential for maximum asset recovery.

The successful resolution of these claims, alongside the defense against FTX’s avoidance claims and counterclaims, significantly impacts BlockFi’s customer recoveries and paves the way for the proposed reorganization plan.

BlockFi To Receive Maximum Value On Customer Claims

According to the agreement, BlockFi will receive an allowed customer claim of $185.2 million against FTX.com, representing the full value of its assets on the FTX exchange as of the FTX petition date. 

In addition, BlockFi will have a $689.3 million claim against Alameda Research for loans made, of which $250 million will be treated as a secured claim. Any claims asserted by FTX against BlockFi to reduce or offset these amounts will be waived, which means that the failed crypto exchange will give up its right to pursue or assert the claim, and FTX has agreed to waive or subordinate any other claims against BlockFi.

Related Reading: Cardano Founder Coins ‘Charles Derangement Syndrome’

The settlement relieves BlockFi by ensuring that FTX recognizes the full amount owed, enabling the maximum value to be received for BlockFi’s claims. The agreement also secures the $250 million secured claim, ensuring an expedited cash payment shortly after FTX’s plan is confirmed and effective.

According to the filing dated March 6, the resolution of the FTX claims, achieved within six months of the Effective Date, allows the Plan Administrator to release a substantial portion of the litigation reserve, further enhancing BlockFi customer recoveries in an anticipated second interim distribution. 

FTX Founder’s Legal Troubles

While BlockFi emerges from bankruptcy with a favorable outcome for its customers, the recent legal proceedings against FTX founder Sam Bankman-Fried have cast a shadow over the cryptocurrency exchange. 

Following a five-week trial, Sam Bankman-Fried was found guilty of all seven counts of defrauding his customers and lenders. The charges carry a potential conviction of up to 110 years in prison, underscoring the severe legal consequences faced by prominent figures in the crypto industry.

Related Reading: A Tale Of 2 Highs: Bitcoin And Gold’s Record-Breaking Milestones Create Market Dissonance

As the FTX plan progresses and additional distributions are prepared under BlockFi’s confirmed Chapter 11 plan, the Plan Administrator will continue to monitor the proceedings and provide updates to customers. 

Ultimately, the crypto lender’s emergence from bankruptcy and the resolution of its claims against FTX and Alameda Research marks a significant turning point for the company and its customers.

BlockFi
The daily chart shows FTT’s price recovery over the past month. Source: FTTUSD on TradingView.com

As of the latest update, FTX’s native token, FTT, is currently trading at $2.59, halting its significant upward trend observed over the past month, experiencing a 3% correction in the last 24 hours. However, the token has shown noteworthy gains over the past fourteen and thirty-day periods, with increases of over 46% and 62%, respectively.

Featured image from Shutterstock, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 8)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 8)

10 minutes ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 8)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 8)

10 minutes ago
Saylor Bitcoin journey is an inspiration for Bitcoin Hyper buyers

How Michael Saylor Hoarded Bitcoin to a Fortune of Billions, Fueling Bitcoin Hyper’s $14M Presale

2 minutes ago
crypto

Crypto Endorsements Get A Makeover As Athletes Avoid Scandal Traps

13 hours ago
Best Altcoins to Buy After US Senate Confirms Tokenized Stocks Are Still Securities

Best Altcoins to Buy After US Senate Confirms Tokenized Stocks Are Still Securities

17 hours ago
Best Crypto to Buy as Banking Giants Now Predict at Least Two Rate Cuts in 2025

Best Crypto to Buy as Banking Giants Now Predict at Least Two Rate Cuts in 2025

17 hours ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    2 days ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    2 days ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    2 days ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    3 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.