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BlockFi Corrects Premature Statements About Bankruptcy Reorganization Plan

BlockFi has issued a corrective letter stating that statements about a bankruptcy reorganization plan should be disregarded. The letter was issued following an order by the U.S. Bankruptcy Court for the District of New Jersey and stated that certain statements were prematurely posted to the court docket, website, and Twitter feed.

The committee of unsecured creditors formed in the wake of the crypto lender's bankruptcy filing last November is opposed to the reorganization plan, and there is disagreement over elements of a proposed plan to liquidate BlockFi's lending platform and distribute funds to creditors. A reorganization plan hearing is set for June.

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