{"id":137432,"date":"2024-09-18T14:30:52","date_gmt":"2024-09-18T11:30:52","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137432"},"modified":"2024-09-18T13:30:59","modified_gmt":"2024-09-18T10:30:59","slug":"blockfi-sets-new-standard-for-bankruptcy-transparency","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/blockfi-sets-new-standard-for-bankruptcy-transparency\/","title":{"rendered":"BlockFi Sets New Standard for Bankruptcy Transparency"},"content":{"rendered":"<p>BlockFi\u2019s case has been praised for its clarity and efficiency, with the company providing detailed reports on its assets, which helped expedite the process.<\/p>\n<p>In contrast, FTX is still navigating some challenges, with a critical hearing for its reorganization plan expected next month. Although creditors have supported the plan, it&#8217;s not without controversy, and FTX\u2019s bankruptcy could be settled by the end of the year.<\/p>\n<p>BlockFi, on the other hand, is in the final stages of its bankruptcy process, with its plan already confirmed. Legal experts have pointed to BlockFi&#8217;s transparency as a model for future cases, contrasting it with FTX&#8217;s more opaque handling. Both companies faced disputes over how to repay creditors\u2014whether in cash or cryptocurrency.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/dragonfly-capital-seeks-500m-for-new-crypto-fund\/\" title=\"Dragonfly Capital Seeks $500M for New Crypto Fund\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/venture-capital-funding-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Dragonfly Capital Seeks $500M for New Crypto Fund<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>FTX opted for cash distributions, despite some pushback from creditors who preferred crypto, while BlockFi couldn\u2019t meet demands for crypto repayments due to a shortage of digital assets.<\/p>\n<p>The differing outcomes raise questions about whether existing bankruptcy laws are sufficient for handling crypto-related cases. Some argue that the current legal framework worked well in BlockFi&#8217;s case, while others believe new, crypto-specific regulations are necessary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bankruptcy proceedings for BlockFi and FTX are nearing their conclusions, though their approaches have been notably different.<\/p>\n","protected":false},"author":9,"featured_media":93961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-137432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BlockFi Sets New Standard for Bankruptcy Transparency<\/title>\n<meta name=\"description\" content=\"The bankruptcy 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