A New Jersey judge has granted preliminary approval for a 13 million USD settlement related to BlockFi, following the withdrawal of an investor’s objection. This settlement, stemming from a class-action lawsuit initiated in 2023, involves 89,000 users who had accounts before BlockFi’s bankruptcy in November 2022.
Judge Claire Cecchi ordered BlockFi’s insurers to deposit the settlement funds into an escrow account within 30 days. A subsequent hearing is set for December 11, 2023, to finalize the settlement and address any further objections before distributions are made to eligible participants.
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