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Judge Michael Kaplan plans to approve BlockFi’s liquidation plan. Therein, some clients will receive partial compensation in Bitcoin (BTC) or Ethereum (ETH). Depending on the outcome of BlockFi’s legal battle with FTX exchange and Three Arrows Capital (3AC) hedge fund, unsecured creditors may receive between 35% and 63% of their funds by the end of 2023. The exact amount of compensation is uncertain and could potentially be affected by up to $1 billion. According to reports on Sep. 26, Michael Kaplan also said he will reject the objections raised by the U.S. Department of Justice’s bankruptcy watchdog regarding the termination of BlockFi’s senior management in the liquidation plan. You might also like: BlockFi battles FTX, 3AC in court over repayment claims On Nov. 11, 2022, BlockFi suspended withdrawals following the turmoil in FTX and Alameda Research.  A few days prior, Flory Marques, the platform’s founder, had reassured clients t...

At a London fintech conference, CEO Brian Armstrong disclosed that Coinbase might consider leaving the U.S. due to the lack of regulatory clarity in the country. United States cryptocurrency exchange Coinbase is gearing up for a lengthy legal battle with the Securities and Exchange Commission (SEC) after the regulator warned the company of potential securities law violations, CEO Brian Armstrong told CNBC in an interview on April 18. Coinbase received a Wells notice from the U.S. SEC on March 22, indicating a possible enforcement action. The notice is usually the last step before the regulator files charges. In response, Armstrong expressed disappointment and revealed that the company had not received any clear details from the SEC about the alleged violations. He told CNBC: “We’ve met with them over 30 times in the last year … never got a single piece of feedback from them about what we can be doing better or differently, and then this Wells Notice arrived. I think we’re going to ha...