U.S. judge orders end to automatic stay between FTX and BlockFi, allowing talks to settle claims
A US judge has ordered the automatic stay between bankrupt crypto companies FTX and BlockFi to be terminated, meaning the two companies can begin negotiating a settlement for the claim. BlockFi filed for bankruptcy at the end of November last year, in part due to the chain reaction caused by FTX's sudden collapse earlier that month. This triggered an automatic stay, halting the litigation process between the two companies. BlockFi has frozen about $355 million on the cryptocurrency exchange platform, and FTX's sister company, Alameda Research, owes BlockFi $671 million.
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