BlockFi's bankruptcy plan disclosure statement has received conditional approval from the court and became effective on August 2

ChainCatcher news, the cryptocurrency lending platform BlockFi and its affiliates have announced that the disclosure statement for their bankruptcy plan has received conditional approval from the U.S. Bankruptcy Court for the District of New Jersey and became effective on August 2. The plan aims to maximize the recovery of funds for customers and return customer funds as quickly as possible. BlockFi and the official committee of unsecured creditors recommend that all parties entitled to vote accept the plan before the voting deadline of September 11.

BlockFi stated that if the plan is confirmed, it will focus on seeking claims against Alameda, FTX, Three Arrows Capital, Emergent, Marex, and Core Scientific in litigation to maximize compensation for customers and defend against claims from third parties.

Qualified creditors of BlockFi have the opportunity to vote in favor of the plan and will receive BlockFi's disclosure statement and plan, detailed voting instructions, and other important information.