FTX Takes Aim at BlockFi’s Bankruptcy Plan
The notorious exchange has raised objections to BlockFi Inc.’s bankruptcy wind-down proposal, particularly its intention to devalue FTX’s claims.
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FTX contends that BlockFi’s plan imposes constraints on their ability to recover $275 million from previous loans and retrieve $213 million from contested payment claims.
FTX’s legal team asserts that “the Plan unfairly discriminates against the FTX Claims in certain respects” and has petitioned the Court to reject the plan.
This opposition follows BlockFi’s assertion that it suffered due to the actions of FTX’s former CEO, Sam Bankman-Fried.
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