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BlockFi Files for Chapter 11 Bankruptcy Amid FTX Collapse

Published 2022-11-29, 09:49 a/m
© Reuters.  BlockFi Files for Chapter 11 Bankruptcy Amid FTX Collapse

  • The crypto lending firm BlockFi has willingly filed for US bankruptcy under Chapter 11.
  • The firm will revise efforts to collect debts owing to BlockFi by its partners, eg FTX and its other entities.
  • BlockFi was unsure where the funding for a credit line and security for loans to Alameda had come from.

BlockFi has announced voluntarily filing for Chapter 11 reorganization. The crypto lending firm has willingly filed a case in the US Bankruptcy Court for the District of New Jersey. BlockFi has listed FTX US as one of its top unsecured creditors, with a $275 million loan.

The post BlockFi Files for Chapter 11 Bankruptcy Amid FTX Collapse appeared first on Coin Edition.

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