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The New Jersey judge has pre -approved a $ 13 million settlement between a group of investors and a cryptocurrency rental company Blockfi after months of delay.
On Thursday, the US District Court for New Jersey, Claire Claire, ordered block insurance companies to pay more than $ 13 million for custody within 30 days in the 2023 court proceedings.
The judge planned to hear from December 11 to determine the final approval of the settlement plan and discuss any objections to the parties. About 89,000 users who held interest accounts in the company from March 2019 to its bankruptcy in November 2022 were eligible for distribution in the settlement.
The lawsuit filed after bankruptcy in 2022, came in the middle of a cryptocurrency market decrease, which was probably caused by the collapse of the Terra ecosystem. Several high -ranking companies applied for bankruptcy, including FTX, Celsius Network and Voyager Digital.
Related: Blockfi bankruptcy bankruptcy administrator agrees to dismiss $ 35 million
The initial complaint against the blockfi filed Trey Greene, which represents a group of investors. They argued that the company sold unregistered securities “through a constant stream of distortion and material omission” by the then CEO of Zac Prince, Chief Operations Director Flori Marquez and Trading with Gemini.
Filing of decorative courts reportedly prince Ignored the recommendations of the Blockfi Risk Management Team Despite lending ALUMEDA Research, potentially contributing to the collapse of society.
Still in bankruptcy proceedings
In addition to the court proceedings, he took blockfi steps to return users’ cryptovnice. The bankruptcy court approved the Plan of Chapter 11 in September 2023 for repayment of more than 10,000 creditors, and blocki achieved a settlement with FTX and Alamed Research to resolve claims of $ 875 million.
“Blockfi is working on performing all final distributions,” said Company in post 2. April X and adds: “There is still a considerable amount of USD and crypto that customers have not claimed.”
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