BlockFi FTX crypto cryptocurrency BlockFi files for bankruptcy, becoming the latest victim of the FTX contagion
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The embattled crypto lender indicated that it made the move in an effort to “stabilize its business and provide the Company with the opportunity to consummate a comprehensive restructuring transaction that maximizes value for all clients and other stakeholders,” according to a press release. In a separate note to clients, BlockFi attempted to reassure its customers that it was doing everything in its power to resolve the liquidity crunch with their best interests in mind.
To help facilitate the process, BlockFi has filed a series of customary motions with the court which would allow it to continue to operate its business throughout the bankruptcy.
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