Judecătorul permite FTX, BlockFi să reia negocierile de revendicare

Crypto lender BlockFi recently emerged from bankruptcy and has claimed the defunct crypto exchange cost it more than $1 billion.

When crypto exchange FTX depus pentru protecția falimentului in November 2022, a part of U.S. bankruptcy laws called an automatic stay kicked in.

A U.S. judge has now ended that stay on the proceedings between FTX and crypto lender BlockFi, which Inscrisa pentru faliment shortly after FTX due to the exposure.

An automatic stay is meant to prevent creditors from pursuing claims against a bankrupt company in order to maximize the value of that company’s remaining assets for all stakeholders.

According to a bankruptcy document filed on Monday, Judge Michael Kaplan ordered that FTX debtors can make “arguments, defenses, counterclaims, setoffs, or otherwise” in respect to BlockFi’s claims in the FTX bankruptcy. The companies were also ordered to file for mediation as soon as possible. That mediation will begin no later than Dec. 24.

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BlockFi had an estimat milioane de dolari stuck on FTX when it collapsed and was owed an additional $671 million by FTX sister firm Alameda Research, where the exchange-ending liquidity crisis began.

BlockFi announced on Oct. 24 that the company had ieșit din faliment. The legal distinction meant that BlockFi could start repaying some creditors and open up withdrawals for most Wallet customers, whose assets had been frozen on the platform.

BlockFi could also attempt to recover assets it believes were owed by FTX and collapsed hedge fund Three Arrows Capital.

CEO-ul BlockFi, Zac Prince testified against former FTX CEO Sam Bankman-Fried in the recent criminal trial where Bankman-Fried a fost găsit vinovat of all seven counts of fraud and conspiracy. Prince outlined how BlockFi lost around $1 billion because of the FTX collapse.