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Jinse Finance reported that BlockFi's proposal is an abuse of bankruptcy rules, putting more than $1 billion at risk in disputed transactions, according to legal documents submitted by FTX on Wednesday. The liquidated hedge fund Three Arrows Capital (3AC) and the federal regulator Securities and Exchange Commission (SEC) also opposed BlockFi's plans, which will be discussed in a New Jersey court on July 13.
Saying that BlockFi owes him $220 million, Three Arrows protested that he was not given the opportunity to challenge the fraud charges, while the SEC said BlockFi and its administration's proposed release terms were too vague and vague. .
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