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BlockFi Entangled with FTX Files for Bankruptcy

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Crypto Lender BlockFi Files for Bankruptcy as FTX Fallout Spreads BlockFi was financially entangled with FTX, and its stability was thrust into uncertainty after FTX collapsed. By Lauren Hirsch, David Yaffe-Bellany and Ephrat Livni Nov. 28, 2022, 10:23 a.m. ET BlockFi, a cryptocurrency lender and financial services firm, filed for bankruptcy on Monday, becoming the latest company in the crypto industry hobbled by the implosion of the embattled exchange FTX. BlockFi had been reeling since the spring, when the collapse of several influential crypto firms pushed the market into a panic, sending the value of cryptocurrencies like Bitcoin plunging. In June, FTX agreed to provide the company with…

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