The bankrupt cryptocurrency lending company BlockFi has received approval from the US Bankruptcy Court in New Jersey to repay 100% of customer funds. The New Jersey Bankruptcy Court approved the plan on July 26th, and the company expects asset distribution for US customers to begin within 90 days, but international customers may face longer waits. The bankrupt cryptocurrency lending company sought court approval to monetize the $874.5 million claim against FTX, which is far higher than the face value. Previously, BlockFi reached a principle settlement of $874.5 million with FTX and Alameda Research, enabling the plan administrator to begin planning for distribution to creditors.
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