Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds.
Today, the bankruptcy plan of Blockfi has been officially confirmed after lengthy and complex negotiations. This confirmation opens the door for clients to receive their rightful distributions.
This marks a significant development in the world of stock markets, as Blockfi was once a leading company in providing digital currency services. However, the company’s financial troubles have recently escalated due to regulatory issues.
Clients are now hopeful of recovering a portion of their funds through this distribution, which will be closely watched in the stock markets.