FTX, BlockFi claims settlement allowed to proceed, judge declares

Bankrupt crypto companies FTX and BlockFi have been allowed to proceed in negotiations for their claims settlement, according to a new court filing.

On Nov. 13, United States bankruptcy judge Michael Kaplan ordered the end of an automatic holding placed on proceedings between the two firms. FTX debtors can now pursue their “arguments, defenses, counterclaims, setoffs, or otherwise” concerning the BlockFi claims in the FTX bankruptcy proceeding.

Both entities filed for Chapter 11 bankruptcy status in November of 2022, after the implosion of FTX at the beginning of that month. BlockFi is estimated to have had around $355 million in funds frozen on the FTX platform, with an additional $671…

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