Major crypto lending and staking platform BlockFi officially filed for bankruptcy on Monday. BlockFi becomes the latest causality of the financial turmoil caused by Sam Bankman-Fried’s FTX סקאַנדאַל.
The company was one of the many affiliates of FTX and Alameda. In fact, Alameda was the sister hedge fund for BlockFi. Earlier this month the platform suspended all user withdrawals, citing that its assets and investments were significantly associated with FTX. Since then, the company has been exploring several alternatives, and its stakeholders agreed that filing bankruptcy was the only viable measure available.
Source: https://www.cryptopolitan.com/blockfi-files-for-bankruptcy/