BlockFi declared bankruptcy today. The company filed with the US District Court of New Jersey under Section 11 for bankruptcy receivership.
BlockFi, which has a market capitalization of $4.8 billion, said it has more than 100,000 creditors and $1 billion to $10 billion in liabilities and assets.
BlockFi, which offers cryptocurrency depository services and has its own trading board It is one of many companies affected by the collapse of FTX, the world’s No. 2 cryptocurrency trading platform.
Previously, BlockFi announced the suspension of customer withdrawals. It acknowledged that the business was hit hard by FTX’s bankruptcy.
FTX filed for bankruptcy on Nov. 11 with more than 1,000,000 creditors, while about 130 of its affiliates filed for bankruptcy. These include Alameda Research and FTX.us.
FTX became a bankrupt company in just a few days. from the original assets of more than 30 billion dollars Amid liquidity crises as clients flock to withdraw funds as Binance pulls out of deal