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BlockFi Gets Few More Weeks To Find Bankruptcy Exit Plan

Cryptocurrency lender BlockFi has been granted until May 15 to file its bankruptcy exit strategy. The company filed for bankruptcy in November 2022, and is now exploring potential asset sales and external backers for a restructuring deal. BlockFi's lawyers said the company would have a plan ready for assessment by unsecured creditors within two weeks of the extension. The company owes more than $10bn to more than 100,000 creditors.

(By SHALINI NAGARAJAN)

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