A U.S. bankruptcy court approved a settlement Tuesday between cryptocurrency lending company BlockFi and collapsed cryptocurrency hedge fund Three Arrows Capital, with details of the settlement being kept private.
The grant effectively resolves the counterclaim. “It’s counterintuitive to require disclosure of settlement details,” said Judge Kaplan of the New Jersey Bankruptcy Court. Tuesday hearing.
On Monday, the U.S. Trustee requested The judge released the details, arguing that the debtor did not have sufficient justification for withholding such information. BlockFi contaminated In January, there was a motion to seal the information, saying it contained “sensitive, non-public” information that could negatively impact future litigation.
BlockFi filed for Chapter 11 bankruptcy in November 2022 following the FTX collapse. In September 2023, the bankruptcy court Approved BlockFi’s Chapter 11 plans to pay off 10,000 creditors. Last October, the company said: came out of bankruptcy And started paying off creditors.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.