Friday, 24 March, 2023

Crypto Lender BlockFi Files For Chapter 11 Bankruptcy

<p>BlockFi has filed for Chapter 11 bankruptcy, making the venture capital-backed cryptocurrency lender the latest victim of the effects of Sam Bankman-FTX Fried&#39;s exchange&#39;s demise. For the New Jersey-based BlockFi, headed by CEO Zac Prince, which was valued at $4 billion in a financing round last year, the filing indicates an unraveling that has been taking place for some months. It experienced losses on loans to the defunct crypto hedge firm Three Arrows Capital in July.</p>