FTX, 3AC, and SEC oppose BlockFi's bankruptcy plan
According to ChainCatcher news and a report by CoinDesk, the cryptocurrency lending platform BlockFi, which has filed for bankruptcy reorganization, has had its proposal accused of abusing bankruptcy rules, involving over $1 billion in disputed transactions.
BlockFi plans to discuss this at a court hearing in New Jersey on July 13, but it faces opposition from Three Arrows Capital and the SEC. Three Arrows Capital claims that BlockFi owes it over $220 million and states that it has not been given the opportunity to contest the fraud allegations, while the SEC argues that the proposed terms for liquidating BlockFi and its management are too vague and broad (source link)
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