Another big refund 💰
BlockFi, one of the crypto lending platforms that became a casualty of the FTX collapse, will begin distributing interim crypto repayments to creditors starting in July.
The company have come out of bankruptcy in October last year, and is now planning to return funds to customers as part of its bankruptcy exit plan.
According to their announcement on X, the payments will be processed in batches in the coming months, where clients that are eligible to receive the paymetnts will be notified via their registered BlockFi account email.
However, the firm has stated that non-US clients are currently ineligible due to regulatory requirements.
BlockFi will be partnering with the US-regulated crypto exchange Coinbase to manage the distribution of repayments to affected users.
In order of priority, the platform will begin processing customer withdrawals for their wallet users first before distributing the remainder of the funds to BlockFi Interest Account (BIA) and loan account holders.
Editor's Note: We've just survived a tsunami of selling from the German government and Mt.Gox, and now BlockFi has entered the picture. Yet, with no clear information on the amount and type of assets that will be reimbursed to customers, concerns of another big selling event happening so soon seem a little premature, but we will just have to wait and see. | 
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