BlockFi emerges from insolvency to settle debts with creditors

BlockFi, a cryptocurrency lending firm, has officially emerged from bankruptcy and plans to begin a wind-down process to repay creditors and recover assets from companies like FTX and Three Arrows Capital.

The company has initiated the distribution of digital assets back to clients, with withdrawals currently available to nearly all wallet customers.

Users with interest-yielding accounts can expect emails prompting them to withdraw funds in the upcoming months.

BlockFi’s emergence from bankruptcy had broad support, including a 90% approval rate across all voting classes. The company is targeting to begin initial asset distributions to clients in early 2024.

This could be considered a signal of market revival. :wink: