BlockFi Settlement Approved: $13 Million Relief for Investors

A US court has recently cleared a $13-million settlement in the BlockFi investor lawsuit, bringing long-awaited relief to over 89,000 customers who held interest-bearing accounts with the company between March 2019 and November 2022. Judge Claire Cecchi of New Jersey ordered BlockFi’s insurers to deposit the funds into escrow within 30 days. This decision follows months of delay due to objections from a single investor, and a final approval hearing is scheduled for December 11th.