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Crypto finance firm BlockFi files for bankruptcy following the fall of FTX

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Crypto’s cold winter claims another company.

posted on Monday, BlockFi announced it’s filing for bankruptcy to help “stabilize its business.”

The bankruptcy filing submitted in New Jersey lists Ankura Trust Company as its largest creditor, to the tune of $729 million, followed by FTX US at $275 million. The SEC is fourth on the list, owed $30 million as a result of penalties laid down earlier this year.BlockFi says it currently has $256.9 million in cash on hand, which is “expected to provide sufficient liquidity” to keep the company up and running while it restructures its business.

 

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Rebrands to BlockedFi

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