BlockFi’s liquidation plan has been approved by a United States Bankruptcy Court in New Jersey, bringing the cryptocurrency lending platform’s customers one step closer to repayment. The amount of repayment received by creditors will depend on the outcome of BlockFi’s legal battle against FTX and other bankrupt cryptocurrency firms. The approval of the liquidation plan comes after BlockFi settled a dispute with the creditors committee over the company’s senior management. BlockFi owes up to $10 billion to over 100,000 creditors, including $1 billion to its three largest creditors and $220 million to Three Arrows Capital.
