Crypto Lender BlockFi Files for Bankruptcy in Aftermath of FTX cpapracticeadvisor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cpapracticeadvisor.com Daily Mail and Mail on Sunday newspapers.
New Jersey-based BlockFi, founded by fintech executive-turned-crypto entrepreneur Zac Prince, said in a bankruptcy filing that its substantial exposure to FTX created a liquidity crisis
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.
Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month.