Cryptocurrency lender and financial services firm BlockFi filed for Chapter 11 bankruptcy Monday, following the near collapse of FTX.
The company, which listed over 100,000 creditors, had suspended withdrawals earlier this month, saying it was “not able to operate business as usual.” The liquidity issues came following the implosion of FTX, which, in June, had agreed to “rescue” BlockFi with a $400 million credit line with an option to purchase the company.
