Like (so far) every other crypto company, BlockFi has filed for Chapter 11 bankruptcy protection, indicating it believes it can continue onwards after a restructuring process. Like other companies, BlockFi claims it faced “a severe liquidity crunch,” directly citing the collapse of the FTX crypto exchange as a main cause. Despite this, BlockFi is in a better position than FTX due, at least in part, to governance and risk management processes, the filing claims.
Source: https://www.coindesk.com/policy/2022/11/29/blockfi-joins-the-bankruptcy-parade/?utm_medium=referral&utm_source=rss&utm_campaign=headlines