- 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.
Today, BlockFi filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.https://t.co/adaAx6me4r— BlockFi (@BlockFi) November 28, 2022
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