BlockFi files for bankruptcy in wake of FTX collapse


BlockFi files for bankruptcy in wake of FTX collapse

BlockFi, the cryptocurrency player that needed a $400 million credit facility from FTX earlier this year, has now filed for bankruptcy.

BlockFi Files For Bankruptcy

Last week, on this show, we wondered whether Genesis, the struggling crypto lender, would be the next domino to fall in the wake of FTX’s collapse.

And indeed, a crypto lender fell. But it wasn’t Genesis. We’ll talk about that and turmoil elsewhere in the crypto market on today’s Daily Defiant.


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Crypto Industry Outlook as BlockFi Files For Bankruptcy

Bernstein Managing Director of Global Digital Assets Gautam Chhugani discusses his outlook for the crypto sector as BlockFi files for bankruptcy in the wake of FTX’s collapse. Plus, the Grayscale Bitcoin Trust (GBTC) is drawing market attention after sister company Genesis Global Capital said its lending unit would halt customer withdrawals. Grayscale Investments, which manages GBTC, Genesis and CoinDesk are owned by Digital Currency Group.

BlockFi Goes Bankrupt as FTX Contagion Spreads

Crypto lender BlockFi has filed for Chapter 11 bankruptcy protection in the U.S., becoming the latest company to collapse due to an FTX shockwave that shows little sign of abating.

Digital financial services company BitGo has been chosen by FTX as the custodian of the bankrupt crypto exchange’s remaining assets. And BitGo CEO Mike Belshe joins Jeremy Varlow and Moritz Seibert for today’s Crypto Daily Briefing to talk about his company’s role in the process of identifying, gathering, and securing assets for FTX creditors.

Later, Tania Reif, the chief investment officer at Senda Digital Assets, joins for a discussion of Bahamian officials’ defense of their country’s crypto regulatory regime, Binance’s expansion of its industry recovery fund, and MetaMask’s user data controversy.

We want to hear from you too – please share your questions, comments, and suggestions!

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FTX Fallout: Blockfi files for bankruptcy following FTX collapse | LiveNOW from FOX

Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection Monday, the latest casualty of the collapse of crypto exchange FTX.

New Jersey-based BlockFi had been struggling for much of this year but was given a lifeline this summer in the form of an FTX line of credit. FTX’s own bankruptcy, however, all but sealed BlockFi’s financial fate. BlockFi suspended withdrawals after FTX’s failure, and it had hired bankruptcy specialists in recent days.

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