“The Rise of Decentralized Finance: Exploring the Future of Crypto”

**🌟 Exciting News! Federal Judge Orders Mediation for BlockFi and Three Arrows Capital Dispute Over $284 Million Payments! 🌟**

Hey Crypto Fam! 🚀 In a positive turn of events, a US bankruptcy judge has stepped in to help resolve the legal tussle between bankrupt crypto hedge fund Three Arrows Capital (3AC) and crypto lender BlockFi. 🌈

🔥 The mediation process is set to kick off in January next year with the goal of finding a common ground for BlockFi and Three Arrows Capital. 🤝 Should the mediation not lead to an agreement, the case is set to head to trial in February 2024.

🔍 The root of the dispute lies in the “preferential payments” made by 3AC to BlockFi prior to the bankruptcy filing. These payments, also referred to as preferences, can complicate matters in bankruptcy proceedings.

📈 Earlier this year, a confidential report by 3AC’s liquidator revealed plans to reclaim a substantial $1.2 billion from Digital Currency Group (DCG) and BlockFi, with $284 million specifically targeted towards BlockFi. 🚨 BlockFi, on the other hand, has raised concerns about fraudulent activities allegedly carried out by the hedge fund.

Exciting times ahead as we wait to see how this story unfolds! 🚀 Stay tuned for more updates in the crypto world! 💫🌟

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