BlockFi's final opponent withdraws, and the $13 million settlement is close to approval.

According to Decrypt, a US court has received the latest developments in the BlockFi class action lawsuit: the final objector, Yacov Baron, has withdrawn his motion to intervene and his objection to the compensation agreement. The agreement, which covers approximately 89,000 interest account holders whose funds were frozen following the collapse of the BlockFi platform, provides for $13.2 million in compensation and is expected to be approved soon. BlockFi's collapse began during the 2022 crypto winter, triggered by the collapse of Do Kwon's TerraUSD stablecoin and ultimately led to a severe liquidity crisis caused by its $680 million exposure to FTX. BlockFi filed for bankruptcy protection a day after FTX.