Mothene Migte, Crypto’s bankruptcy official, and US Department of Justice (doj) Agreed To end a lawsuit focused on transferring assets of $ 35 million. This advertisement represents the latest chapter in the Blocki bankruptcy story, which started with Swan Black events in November 2022.
Blockfi vs doj: Peace in the end
In May 2023, the Ministry of Justice sought to make a 35 million dollar transfer in Blockfi accounts to the United States government. It is worth noting that the representatives of the Ministry of Justice claimed that these funds belong to two of the Estonian citizens participating in the fraud case and obtained legal orders to confirm the ownership of these illegal returns.
However, BLOCKFI is currently subject to bankruptcy after the huge collapse of $ 32 billion in FTX encryption in November 2022. The famous encrypted lending company provided 11 bankruptcy a few days after this seismic event due to the level of FTX financial exposure, worth $ 1.03 in unpaid loans.
Therefore, a group of non -guaranteed creditors issued a lawsuit against the Ministry of Justice claiming that such transfers could affect the recovery of potential assets. Meanwhile, the Ministry of Justice argued that the US Banking Court of New Jersey – which was submitted in the case – could not neutralize the government’s claims for these assets.
Two years after this lawsuit, Mickee and the Ministry of Justice agreed to this ending All legal procedures on transferring assets of $ 35 million.
The joint decision was taken before Judge Michael B. Kaplan is from the American Banking Court for New Jersey Province on Friday, July 11, who agreed to the case a day. It is worth noting that both parties agreed to reject the issue with bias, which means that it cannot be renovated. At the same time, each party is expected to bear its legal fees and costs.
After submitting her bankruptcy in 2022, according to what was reported, Blockfi condemns 100,000 creditors of about $ 10 billion, including the main debts of prominent names such as Ankura Trust, the US Securities and Exchange Committee, and the hedge of no more than three shares.
Overview of the encryption market
In other news, the value of the total encryption market is 3.64 trillion dollars after an increase of 0.17 % last day. Bitcoin, CryptoCtrncy, maintains an unparalleled market in the market, which has a total market share of $ 2.33 trillion.
Interestingly, the encryption market enters a decisive week, as the US House of Representatives is expected to discuss three important legislation-the law of clarity, the CBDC control law, and the Senate Genius Law, as part of the efforts made to unify a reliable regulatory framework that encourages the adoption of digital assets and the protection of the user’s interest.
Distinctive image from the BBC, the tradingView graph
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The post BlockFi Administrator And DOJ Strike Deal To Terminate $35 Million Lawsuit — Details first appeared on Investorempires.com.
