BlockFi $13M Settlement Don Approve for 89,000 Investors

One U.S federal judge don give preliminary approval for BlockFi settlement wey worth $13 million for one class-action suit wey dey accuse dem of selling unregistered securities and giving investors wrong info. According to the order, insurance people suppose put the settlement money for escrow within 30 days. This BlockFi settlement go cover about 89,000 users wey hold interest-bearing accounts between March 2019 and November 2022, when BlockFi file for Chapter 11 bankruptcy because of the bigger crypto market crash wey happen after Terra collapse. They get hearing for December 11 to finalize how claims go dey handled and the distribution time. Even though BlockFi still dey bankruptcy, dem don secure $875 million settlement with FTX and Alameda Research and still dey return undistributed USD and crypto assets to customers. Investors wey qualify suppose dey check official court channels, update their contact details with the settlement administrator, and prepare account documents to make sure say dem claim on time. This settlement show how important regulatory compliance and investor protection be for cryptocurrency market.