BlockFi-filer för konkurs
- BlockFi är fortfarande skyldig SEC $30 miljoner, vilket gör SEC till dess fjärde största borgenär.
- BlockFi also owes $275 million to West Realm Shires.
- Kryptolångivaren går med FTX, Voyager och Celsius för att ansöka om konkurs.
Kryptolångivaren BlockFi har anslutit sig till listan över blockkedjeplattformar för att ansöka om konkurs under det som har varit ett turbulent år för den bredare kryptomarknaden. BlockFi meddelade på måndagen att det hade arkiveras for Chapter 11 bankruptcy along with eight affiliates. The company made the filing in a New Jersey court as crypto prices continue to decline.
BlockFi’s decision comes as no surprise to many. The company’s future has been in doubt since FTX filed for bankruptcy. In its court filing, the bankrupt lender listed FTX as its second-largest creditor. BlockFi was one of the crypto platforms that rose to prominence during the last bull run. The platform claimed that it had more than 450,000 retail customers in 2021.
The crypto lender promoted itself particularly to small investors, providing them with accounts that paid high interest on cryptocurrency deposits as well as quick loans backed by cryptocurrencies without credit checks. BlockFi’s collapse raises huge concerns about the crypto industry where companies are so linked that even a small shake can cause financial havoc.
Flera kryptovalutaföretag, inklusive FTX och BlockFi, har gått i konkurs de senaste månaderna. Celsius Network och Voyager Digital ansökte om konkurs inom en vecka efter varandra i juli. Båda plattformarna var offer för en stor marknadspanik som såg värdet av många välkända kryptovalutor krascha till nya bottennivåer. Både Celsius och Voyager hade svårt att komma tillbaka på rätt spår.
BlockFi has struggled for stability since then and reached an agreement with FTX in June to secure itself. The deal with FTX was considered a safety net for the lender given that FTX held the market as one of the key players. FTX offered to provide BlockFi with a $400 million credit line, which the lender could use as needed.
BlockFi, in its bankruptcy filing, said it had $257 million in cash on hand to help it keep going during the bankruptcy. In court documents, the crypto lender claimed to have more than 100,000 creditors and $10 billion in assets and liabilities. Additionally, it promised to drastically cut costs overall, including labour.
BlockFi also said that it would concentrate on collecting any obligations owed to it, including those owed by FTX. However, given FTX’s bankruptcy, BlockFi warned of possible delays in recouping assets from the exchange.