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The crypto lender said it will use the bankruptcy proceedings to "focus on recovering all obligations owed to BlockFi by its counterparties, including FTX and associated corporate entities."
For a regime that has become as dependent on crypto to avoid sanctions and steal hard currency, FTX’s collapse couldn’t be more ill-timed.
According to the report, some cryptocurrency analysts are predicting a return to $10,000, which would take Bitcoin to levels last seen in 2020.
FTX, which had been among the world's largest cryptocurrency exchanges, is headquartered in the Bahamas.
The controversial collapse of FTX alarmed authorities all over the world and pushed regulators to have a deeper look at the rules they have set for cryptocurrency businesses.