In the ongoing litigation saga between digital asset platforms FTX and BlockFi, a US judge has ordered the proceedings to be put on hold, allowing the two companies to negotiate a potential settlement, as reported by CoinDesk on November 14.
The freeze followed BlockFi's bankruptcy filing in late November, a move triggered in part due to the repercussions of FTX's sudden collapse earlier the same month. The legal complications tie around $355 million of BlockFi's funds currently frozen on FTX's platform, further exacerbated by FTX's sister company, Alameda Research, owing about $671 million to BlockFi.
As the judicial intervention paves the way for a possible settlement, both sides will be able to negotiate and possibly resolve their claims outside court, rooting for a faster way to convenience.
