BlockFi announces its bankruptcy plan is in effect
BlockFi has announced that its bankruptcy plan has become effective and it can now officially begin to carry out the actions detailed in the plan, including repaying creditors according to the plan's terms. The plan will allow the company to carry out the following operations: Recovery: Attempt to recover assets that the company believes are owed by FTX, 3AC, and other companies, as well as their bankruptcy assets. The success of this lawsuit may increase compensation for customers. Withdrawal: Continue to distribute digital assets to customers, including BIA holders. Claims: Continue to verify the claims process to ensure that customer claims accurately reflect the asset categories and amounts, and ensure that customers receive a fair and reasonable distribution of remaining and recovered assets.
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