BlockFi Will Seek $680 Million From FTX’s Alameda, Lawyer Says

Bankrupt cryptocurrency lender BlockFi Inc. will try to collect about $680 million it is owed by a part of Sam Bankman-Fried’s failed crypto empire, a lawyer told the federal judge overseeing BlockFi’s insolvency case.

The company made its first appearance in bankruptcy court in Trenton, New Jersey, on Tuesday, seeking routine approval to keep operating while it tries to develop a plan to repay creditors owed more $1 billion by reorganizing or finding a buyer.

Part of that effort will include collecting money it is owed by other crypto firms, including Alameda Research, the bankrupt trading operation founded ...