BTCC
/
BTCC Square
/
Global Cryptocurrency
/
BlockFi’s $13.2 Million Settlement Nears Approval, Paving Way for Investor Compensation
BlockFi’s $13.2 Million Settlement Nears Approval, Paving Way for Investor Compensation
4
2
BTCCSquare news:
A proposed $13.2 million settlement for BlockFi investors has cleared a critical hurdle after the sole objector withdrew his challenge. The resolution sets the stage for nearly 89,000 customers to recover funds from the collapsed crypto lender.
New Jersey federal court filings confirm Yacov Baron abandoned his motion to intervene, removing the last obstacle to the compensation plan. The settlement, negotiated in February, resolves securities fraud claims against BlockFi’s founders and executives.
While focused on interest-bearing account holders, the agreement preserves rights for individual claims. Attorneys emphasized the urgency of preliminary approval to align with BlockFi’s ongoing bankruptcy proceedings.
By:
