Cryptocurrency lender BlockFi declares bankruptcy, a consequence of FTX's collapse

BlockFi, a cryptocurrency lender, has filed for Chapter 11 bankruptcy. Here, an illustration picture shows gold plated souvenir cryptocurrency Tether, Bitcoin and Etherium coins.BlockFi, a cryptocurrency lender, has filed for Chapter 11 bankruptcy. Here, an illustration picture shows gold plated souvenir cryptocurrency Tether, Bitcoin and Etherium coins.

"Rest assured, we will continue to work on recovering all obligations owed to BlockFi as promptly as practicable," the company said in a letter to customers. "Ultimately, we found a great partner in FTX US, who shares our commitment to clients," Prince and Marquez said at the time. BlockFi blamed its predicament on"crypto market volatility" and a broader market downturn.

Teething pains? Maybe need for some regulation? History MONEY

I still don't understand how crypto was ever legal. 🙄

🤣🤣🤣

Crypto was never backed by anything. It was only a matter of time before it failed. It was made up money

Crypto has one rule: don’t be the last one holding the bag. This was inevitable.

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I'm sorry npr. Thoughts and prayers. This must make you sad

Just another huge shocker. It's yet another Ponzi scheme caving in. It's built on a house of cards.

FTX CEO funded the Democrat party. You should be writting about how the DNC should give the money back so people can recover their money.

La La La La La La La La All of crypto is a scam

It was always going to revert to its intrinsic value...

Look out below!

I'll save the taxpayers some money.... Crypto was always a pyramid scheme destined to implode. You're welcome.

I don't understand? If cryptocurrency is 'virtual' money and therefore not real how can anyone lose money in it? Did they invest all of it in NFTs? Are they living in the 'metaverse'? Maybe all of them should rejoin the 'real' world instead of an alternative 'virtual' reality.

And the dominos begin to fall. This is much more significant then the MSM is alluding to.

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Crypto finance firm BlockFi files for bankruptcy following the fall of FTXCrypto’s cold winter claims another company. Rebrands to BlockedFi the ghosts of a billion tulip bulbs are chuckling quietly to themselves lmaooooo
Source: verge - 🏆 94. / 67 Read more »

BlockFi Files for Bankruptcy as Latest Crypto CasualtyCryptocurrency lender BlockFi filed for bankruptcy, making it the latest major digital assets company to fail since FTX, with which BlockFi is financially intertwined. after the FTX “ fraud “. (I fixed your spelling error. The crypto Ponzi scheme is coming to an end.
Source: WSJ - 🏆 98. / 63 Read more »