BlockFi Completes FTX Claim Sale, Prepares for Final Creditor Distribution
As the bankruptcy proceedings of the collapsed centralized cryptocurrency lending institution approach completion, BlockFi has confirmed the sale of its FTX debt. According to a statement, BlockFi plans to have its administrator and M3 Partners Managing Partner Mohsin Y. Meghji report the sale to the US bankruptcy court in New Jersey on Monday. Meghji stated that the sale process began on June 24th and ended on July 10th, with the "highest and best bid" being determined to be "significantly above face value" and monetized through an undisclosed third party.
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