Classifieds

BlockFi, one of the largest cryptocurrency lenders in the industry, filed for Chapter 11 bankruptcy protection, according to a new filing on Nov. 28.
The company acknowledged that it had “significant exposure” to FTX and ex-CEO Sam Bankman-Fried’s subsidiaries. This, BlockFi says, included “obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US.”
The New Jersey-based crypto firm, founded in 2017 by Zac Prince and Flori Marquez, has liabilities between $1 billion and $10 billion and more than 100,000 creditors. BlockFi owes $729 million to its largest creditor, Ankura Trust, a business that manages creditors in stressed situations. FTX, its second-largest creditor, is owed $275 million on a loan approved earlier this year. BlockFi also listed the Securities and Exchange Commission (SEC) as a creditor that is owed $30 million....