BlockFi submits disclosure statement to provide clients with necessary information for asset liquidation

ChainCatcher news, the bankrupt crypto lending platform BlockFi has submitted a disclosure statement to provide customers with the necessary information to make an informed decision on whether to vote to accept BlockFi's plan.

This includes: expected recoveries, the disclosure statement contains a table of expected recoveries for each class of claims; allocation timing, after the initial asset allocation, BlockFi will continue to assert claims and litigation against Alameda and FTX as well as other business counterparties; wallet customers, the plan stipulates a full return of non-estate digital assets held in customer wallet accounts related to the wallet program, subject to applicable offsets; customers will receive any releases from BlockFi regarding potential recovery claims against them, including transfers made prior to the platform's suspension on November 10, 2022.

Subsequently, BlockFi will submit the disclosure statement to the court for approval on June 20, and more information about the voting process will be shared after the court approves the disclosure statement. (source link)