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FTX reaches settlement with BlockFi, may pay up to US$874 million
Bankrupt crypto companies FTX and BlockFi have resolved their disputes stemming from the companies' collapses in 2022, with FTX agreeing to pay BlockFi up to US$874 million, according to court documents filed on Wednesday (Mar 6). The settlement is subject to approval by US Bankruptcy Judge John Dorsey in Wilmington, Delaware. The two companies had sued each other in 2023, seeking to recover money they had loaned each other before they both went bankrupt in November 2022. Under the new settlement, FTX agreed to prioritise a US$250 million payment to BlockFi, and the remainder of the settlement is contingent on its ... (full story)