Crypto Lawyer Says BlockFi Most Likely to Pay SEC First

Sasha Hodder, founder of crypto law-focused Hodder Law, said Tuesday that BlockFi is most likely to pay the U.S. Securities and Exchange Commission (SEC) first, CoinDesk reported. Sasha Hodder said, “Customers are last in line, and it’s a little far-fetched for them to get their money back.” BlockFi reached a $50 million settlement agreement with the SEC in February this year for failing to register the offering of its encrypted loan product. It also agreed to pay an additional $50 million to states that filed similar charges. BlockFi has about $30 million in unpaid SEC fines.