A New Jersey bankruptcy court judge has approved BlockFi’s request to offer bonuses to top staff.
“It offers the debtor and the employee an opportunity to move forward and maximize the estate,” Judge Michael Kaplan said in a hearing on Friday. “I’m happy to approve it going forward.”
The failed crypto lender previously said it is losing employees to other companies in a “war for talent,” including Walmart, Google and Block Inc. Eleven employees have left BlockFi since the firm filed for bankruptcy protection in November, lawyer Rush Howell said during the hearing, representing nearly 10% of the firm’s remaining workforce.
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