BlockFi Settles With FTX, Alameda Estates for $874.5M

Bankrupt crypto lender BlockFi, which was caught in the contagion of FTX and declared bankruptcy days after the exchange's collapse, has reached an "in principle" agreement with the estates of FTX and Alameda Research for nearly $1 billion, according to a recent court filing, which could lead to full value recovery for BlockFi's customers. Under the settlement, BlockFi will receive a total of $874.5 million in claims against FTX and Alameda Research. FTX, Alameda, and BlockFi had a complicated and intertwined relationship. BlockFi received a $400 million line of credit from FTX, and FTX, under its legal name West Realm Shires, was one of BlockFi's largest creditors with a $275 million claim.

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