Another one bites the dust! Crypto Lender BlockFi has reportedly filed for Bankruptcy.
in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several days of speculation on the company’s financial health after the collapse of FTX., BlockFi has $256.9 million on hand. It has filed motions “to pay employee wages and continue employee benefits without disruption. It also seeks to “establish a Key Employee Retention Plan to ensure the company” and has created an internal plan to reduce expenses.
BlockFi International has also filed for bankruptcy with the Supreme Court of Bermuda, according to the statement.
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