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Crypto Lender BlockFi Files for Chapter 11 Bankruptcy Protection

  • Writer: Robert J. Gonzales
    Robert J. Gonzales
  • Nov 28, 2022
  • 1 min read

Digital-asset lender BlockFi filed for Chapter 11 bankruptcy protection in New Jersey on November 28, 2022. According to a press release, BlockFi cited the downfall of cryptocurrency exchange FTX and its associated companies for pushing it over the edge, and said it has $256.9 million in cash on hand, which it plans to use to continue with ongoing operations during the restructuring process.

 
 
 

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