A settlement between crypto lender BlockFi and defunct crypto hedge fund 3AC can proceed, but details will remain sealed.
A United States judge has approved a settlement resolving claims and disputes between crypto lender BlockFi and defunct crypto hedge fund Three Arrows Capital (3AC), but ordered thathe details remain sealed.
In a Feb. 6 hearing, New Jersey Bankruptcy Court Judge Michael Kaplan approved a settlement between the companies to prevent further legal dueling as BlockFi claimed 3AC owed it $129 million, while the hedge fund claimed BlockFi owed it $280 million.
Judge Kaplan declined to unseal the settlement agreement, stating it would be “counter-intuitive” to do so and rebutted the U.S. Trustee’s objection to the seal that argued the terms should be disclosed because the debtors had not justified the need to seal the settlement.
