BlockFi reaches agreement with FTX and Alameda

Cryptocurrency lender BlockFi has reached a settlement with FTX and Alameda Research for $874 million. That's according to current court filings. Following FTX's bankruptcy, Alameda and BlockFi also had to file for Chapter 11 bankruptcy in November 2022.

Since then, BlockFi has sought to stabilize the company and "allowed the company to complete a comprehensive restructuring transaction that maximizes value for all customers and other stakeholders."

According to attorney Kenneth Aulet, the repayment now agreed upon in the millions is an "excellent result" for BlockFi's creditors. It remains to be seen how duped customers will get their money.