FTX, BlockFi Agree to Mediation Over $1 Billion Dispute

FTX has agreed to mediate a dispute over whether Sam Bankman-Fried’s failed crypto exchange owes bankrupt crypto lender BlockFi Inc. more than $1 billion.

• FTX agreed to mediation under a broader settlement disclosed Wednesday in court papers that partially resolves litigation arising from business before the firms filed Chapter 11 in November 2022
• FTX agreed to forgo preference claims against BlockFi totaling $212 million, according to court documents
  • FTX CEO John J. Ray III said in a sworn statement that the company will still be able to use those claims to contest, and potentially offset, BlockFi’s larger legal claim ...