BlockFi announces the completion of its bankruptcy restructuring and the launch of the compensation plan

ChainCatcher news, cryptocurrency lending company BlockFi has announced the successful completion of its bankruptcy proceedings and the commencement of its bankruptcy plan. BlockFi will begin implementing the measures outlined in the plan, including repaying creditors according to the scheduled terms, working to recover assets from FTX, 3AC, and other companies, continuing to distribute digital assets to customers, and ensuring that customer rights are fairly and equitably distributed.

For Wallet customers, they can now withdraw funds. Meanwhile, BlockFi Interest Account (BIA) and loan customers will start receiving their first distributions in early 2024.