BlockFi, a cryptocurrency lending platform, has announced that it has emerged from bankruptcy and will now proceed with its bankruptcy plan. The company will continue to distribute client assets and allow wallet customers to request withdrawals until December 31. In early 2024, BlockFi plans to enable withdrawals for BlockFi Interest Account (BIA) and Retail Loan customers through a separate process. The company also mentioned that it expects multiple waves of distributions from its wind-down process. BlockFi will continue its claims reconciliation process to ensure accurate claims and fair fund distribution to clients. Additionally, the company aims to recover assets owed by FTX, Three Arrow Capital, and other companies through successful litigation. However, some parties have contested BlockFi’s claims, and the outcome of the case remains uncertain. BlockFi initially filed for bankruptcy in November 2022, citing issues related to the FTX empire. The company’s bankruptcy filings indicate debts of up to $10 billion to numerous creditors and former customers.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Sam-Bankman, Zac Prince
Companies	Alameda, Three Arrow Capital (3AC), FTX
Currencies	None
Securities	None