Odaily Planet Daily News According to official news, BlockFi announced that its bankruptcy plan has taken effect on October 24, 2023. BlockFi's management, consultants and other stakeholders have worked hard over the past 11 months to reach this key milestone, reaching the effective date faster and more efficiently than many other retail-oriented crypto companies. After Emergence, BlockFi can officially begin to implement the actions detailed in the plan, including repaying its creditors in accordance with the terms of the plan, and will allow the company's following initiatives: - Recoveries: Try to recover assets that the company believes FTX, 3AC and other companies and their bankruptcy estates owe BlockFi. The success of this lawsuit may increase customer compensation; - Withdrawals: Continue to distribute digital assets back to customers, including BIA holders. - Claims: Continue the claims reconciliation process to ensure that customer claims are accurately reflected in asset classes and amounts, and to ensure that customers receive a fair distribution of remaining and recovered assets.