BlockFi's final opponent withdraws, and the $13 million settlement is close to approval.
2025/08/22 19:00
PANews reported on August 22nd that according to Decrypt, a US court has received the latest developments in the BlockFi class action lawsuit: the last objector, Yacov Baron, has withdrawn his motion to intervene and his objection to the compensation agreement. The agreement, which covers approximately 89,000 interest account holders whose funds were frozen after the collapse of the BlockFi platform, is worth $13.2 million and is expected to be approved soon.
BlockFi's bankruptcy began during the 2022 crypto winter, triggered by the collapse of Do Kwon's TerraUSD stablecoin, ultimately leading to a severe liquidity crisis due to its $680 million exposure to FTX. BlockFi filed for bankruptcy protection a day after FTX filed for bankruptcy.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights
You May Also Like
Hacken: If you hold HAI on Ethereum or BNB chain, please do not initiate bridge transactions for the time being
PANews reported on June 21 that Hacken announced on the X platform that it is investigating a security incident involving unauthorized minting of HAI tokens on the Ethereum and BNB
Share
PANews2025/06/21 18:30
Share
Avalanche (AVAX) Price Tests the Ceiling – Here’s When Traders Might See the Next Big Push
Avalanche price is trading near $25.54, showing only a small move today, but the charts hint that the token could be gearing up for a much larger shift. Both the daily and 4-hour setups show that AVAX has been consolidating against a key resistance area, with momentum slowly building in the background. On the daily
Share
Coinstats2025/08/25 02:00
Share
Met a former colleague at an offline event, Clanker developer was exposed for "stealing Velodrome funds" and quit the team
Recently, Clanker founder and CEO Jack Dishman announced that the project developer Proxystudio has decided to resign immediately because Proxystudio was exposed for a "criminal record" - when working on the well-known DeFi project Velodrome Finance, it stole about $350,000 worth of funds from the team's wallet. Although he later returned the funds, the incident still brought far-reaching negative impacts.
Share
PANews2025/05/07 10:34
Share