The settlement agreement between Three Arrows Capital and BlockFi has been approved by a U.S. judge
US judge has approved a settlement agreement between cryptocurrency lending platform BlockFi and bankrupt cryptocurrency hedge fund Three Arrows Capital regarding claims and disputes, but ordered the details to be kept confidential.
At a hearing on February 6th, New Jersey bankruptcy court judge Michael Kaplan approved the settlement agreement between the two companies to prevent further legal disputes. BlockFi claimed that Three Arrows Capital owed it $129 million, while the hedge fund claimed that BlockFi owed it $280 million.
Judge Kaplan refused to unseal the settlement agreement, stating that it would be "counterintuitive" and rejected objections by the US trustee to lift the seal, who believed that the terms should be disclosed because the debtor did not prove the need for the settlement agreement to be kept confidential.
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