BlockFi Administrator, DOJ Agree to End Suit Over Crypto Assets

An administrator in charge of BlockFi Inc.'s wind-down agreed to dismiss a case stemming from a proposed transfer of more than $35 million in crypto assets to the government.

BlockFi’s bankruptcy plan administrator and the Department of Justice moved to end the lawsuit Friday. Judge Michael B. Kaplan of the US Bankruptcy Court for the District of New Jersey approved the agreement the same day.

Each side will pay its own legal fees and expenses.

A committee of unsecured creditors initially brought the May 2023 suit after the US said it had warrants to seize funds from the BlockFi accounts ...