U.S. Bankruptcy Judge Approves BlockFi's Third Amended Bankruptcy Plan

ChainCatcher news, Cointelegraph reports that U.S. Bankruptcy Judge Michael A. Kaplan approved BlockFi's third amended Chapter 11 bankruptcy plan during a court hearing on September 27. The amount repaid to BlockFi's unsecured creditors will largely depend on whether BlockFi can achieve success in its legal battles with FTX and other bankrupt crypto companies. It is estimated that BlockFi owes over 100,000 creditors up to $10 billion, including $1 billion to its three largest creditors and $220 million to the bankrupt crypto hedge fund Three Arrows Capital.