A settlement between crypto lending company BlockFi and collapsed crypto hedge fund Three Arrows Capital was approved by a US Bankruptcy Court on Tuesday, with the details of the settlement being sealed. This settlement effectively resolved counterclaims between the two parties.
During the hearing on Tuesday, Judge Kaplan of the New Jersey Bankruptcy Court noted that it is not logical to require the disclosure of settlement details.
However, on Monday, the US Trustee requested that the judge unseal the details, arguing that there is no sufficient justification for the debtors to keep such information undisclosed.
BlockFi initially filed a motion to seal the information in January, citing its sensitivity and potential negative impact on future litigation.
