Crypto Lender BlockFi Submitting for Chapter and Conducting Main Layoffs as FTX Contagion Claims One other: Supply

 Crypto Lender BlockFi Submitting for Chapter and Conducting Main Layoffs as FTX Contagion Claims One other: Supply



The FTX contagion has simply claimed one other crypto agency.

BlockFi will file for Chapter 11 chapter safety later at this time, a supply on the firm tells Decrypt.

The crypto lender can be shedding a big portion of its workers, the supply stated.

BlockFi, which let customers earn yield for depositing idle cryptocurrencies on the platform, first halted withdrawals on November 11, the identical day FTX filed for chapter.  “We, like the remainder of the world, discovered about this example by Twitter,” BlockFi wrote in a letter at the moment. “We’re shocked and dismayed by the information concerning FTX and Alameda.”

Almost per week later, a supply on the firm informed BlockFi that it was contemplating submitting for chapter, given its hefty publicity to FTX.

This story is breaking and shall be up to date shortly.

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