The collapse of FTX has set off the largest crypto-related bankruptcy ever, and court filings are already shedding light on what went wrong and how complicated things could get. Here are three things to know about the company’s bankruptcy process. Photo: Lam Yik/Bloomberg NewsCryptocurrency lender BlockFi Inc. filed for bankruptcy Monday, making it the latest major digital assets company to fail since FTX, with which BlockFi is financially intertwined.
BlockFi was founded in 2017 by Zac Prince and Flori Marquez. The company lends money to customers using their cryptocurrency assets as collateral.
Who cares?
Here’s what is most nefarious about this: the con artists and scammers who promote “investing” in fake money were enriched and will continue to propitiate their malignant influence on the economy and culture at large. Had we just burned the money at least we’d still be warm.
All the rubes left gutted.
The crypto Ponzi scheme is coming to an end.
after the FTX “ fraud “. (I fixed your spelling error.
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