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New Jersey-based BlockFi, founded by fintech executive-turned-crypto entrepreneur Zac Prince, said in a bankruptcy filing that its substantial exposure to FTX created a liquidity crisis
Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the FTX exchange earlier this month.
FTX was listed as the crypto lender’s second-largest creditor in the court filing that also reveals it owes the SEC $US30 million.
It was the fastest-growing private company until crypto winter struck. Now its old-fashioned gloss on fintech is setting it apart.
The adtech and fintech impact pro joins at inflection point as industry seeks new breed of privacy-first automation, scale, and performance Scibids, the global leader in artificial intelligence