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BlockFi announces completion of bankruptcy reorganization and launches compensation plan

Cryptocurrency lending company BlockFi announced that it has successfully completed its bankruptcy proceedings and is now implementing its bankruptcy plan. BlockFi will begin implementing measures outlined in the plan, including repayment of creditors according to plan terms, efforts to recover assets from FTX, 3AC, and other companies, distribution of digital assets to customers, and ensuring fair and equitable distribution of customer rights.

For Wallet customers, they can now withdraw their funds. BIA and loan customers of BlockFi will begin receiving their first distribution in early 2024.

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