According to PANews on August 3, according to Businesswire, the collapsed cryptocurrency lender BlockFi announced that its disclosure statement has been conditionally approved by the Bankruptcy Court of the New District of the United States, effective on August 2, 2023, recommending that all parties entitled to vote Accept this BlockFi Chapter 11 plan before the September 11, 2023 voting deadline. BlockFi emphasized that the program will return client funds as quickly as possible to a fair and value-maximizing conclusion for these Chapter 11 cases.

BlockFi noted in the press release that through the company’s plan, BlockFi intends to return wallet assets to creditors and subsequently wind up the company’s affairs. If the plan is confirmed, the company will focus its efforts on pursuing claims and causes of action in the lawsuits against Alameda, FTX, Three Arrows Capital, Emergent, Marex and Core Scientific in order to maximize compensation for customers and defend against third-party claims , as these claims could significantly dilute customers. BlockFi's eligible creditors have the opportunity to vote in favor of the plan and will receive BlockFi's disclosure statement and plan, detailed voting instructions, and other important information.