BlockFi reaches a settlement with management over potential legal claims, assisting FTX and Three Arrows Capital in taking action

2023-07-12 08:58:31

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ChainCatcher news, according to Bloomberg, the cryptocurrency lending platform BlockFi has reached a settlement with co-founders Zac Prince and Flori Marquez, as well as other management, regarding potential legal claims, and has agreed to assist the company's lawyers in taking action against FTX and Three Arrows Capital. BlockFi's management will serve as key witnesses in the lawsuits involving FTX and Three Arrows, which could help recover $1 billion in assets for creditors.

Additionally, court documents show that co-founders Zac Prince and Flori Marquez, along with other management, have also agreed to waive or reduce their personal digital asset recoveries on the BlockFi platform and to donate $2.2 million in cash to the company. However, this settlement agreement is subject to judicial approval. (Source link)

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