BlockFi’s customers might finally feature a financial comeback, thanks to a deal with FTX and Alameda Research. 😍
How much? Up to $874 million, contingent on court approval. This settlement could be the lifeline for customers left adrift after the 2022 crypto upheaval.
At the heart of this financial rescue mission is an initial $250 million from FTX, part of a broader $874 million pact aimed at mending the fallout from assets and loans entangled between BlockFi and the two firms.
FTX is (or did) liquidating assets like its stake in AI company Anthropic, which is expected to rake in about $1 billion. This is a breath of fresh air for BlockFi’s clientele and a possible endgame to their financial fiasco. 🙅♂️