BlockFi Bankruptcy Administrators Reach Settlement with U.S. Department of Justice, Dismissing $35 Million Lawsuit
Odaily Planet Daily reported that BlockFi’s bankruptcy administrators have reached an agreement with the U.S. Department of Justice (DOJ) to dismiss a lawsuit involving the transfer of $35 million in crypto assets. The agreement was approved on Friday by New Jersey bankruptcy court judge Michael B. Kaplan. The case originated in May 2023, when the DOJ attempted to seize funds in BlockFi accounts belonging to two Estonian citizens, claiming the funds were linked to a criminal fraud case. Under the terms of the settlement, the case is “dismissed with prejudice,” and both parties will bear their own legal costs. Notably, BlockFi filed for bankruptcy in November 2022 following the collapse of FTX, and currently owes approximately $10 billion to around 100,000 creditors. The company has set April 28, 2024, as the final deadline for customers to withdraw their remaining crypto assets. (Cointelegraph)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ-IIFL Finance rallies to a two-month high, boosted by Blackstone deal
The “outlier” in the AI capital expenditure frenzy: Apple (AAPL.US) keeps spending flat, accounting for less than 5% of sales
Apple continues to stand out among major tech peers, largely avoiding the aggressive wave of capital expenditure associated with artificial intelligence (AI) infrastructure.
Youth Employment Declines for 48 Consecutive Months: Behind the Semiconductor Boom, Young South Koreans Are Being Left Behind by the Times
In South Korea, the unemployment rate in October fell to a three-year low of 2.5%. However, the number of employed people decreased by 50,000, youth employment has declined for 48 consecutive months, and domestic demand remains weak.
Crypto prices
More
