SEC, FTX, and Three Arrows Capital contest BlockFi’s bankruptcy plans

The U.S. Securities and Exchange Commission (SEC), alongside bankrupt crypto firms FTX and hedge fund Three Arrows Capital (3AC), have objected to BlockFi’s bankruptcy plans, according to July 5 court filings.

SEC opposes BlockFi’s plans

In its filing, the SEC argued that the clauses in BlockFi’s proposed plans were ambiguous and broad, as they did not provide adequate information that would aid other stakeholders.