BlockFi reached a settlement of $874.5 million with FTX and Alameda

ChainCatcher news, according to court documents, BlockFi has reached a "principled" agreement of nearly $1 billion with FTX and Alameda Research, which may restore all assets of BlockFi customers.

The settlement agreement states that BlockFi will receive a total of $874.5 million in compensation from FTX and Alameda Research, of which $250 million will be considered secured claims and will be prioritized for payment to BlockFi after the bankruptcy plan submitted by FTX in December is approved by creditors. FTX will also waive its claims against BlockFi, and BlockFi's remaining claims will be paid similarly to other claims in the FTX plan. The agreement is pending the judge's signature.