Three weeks after they suspended user withdrawals because of a “lack of clarity”, Blockfi filed for Chapter 11 bankruptcy.
The latest victim in the FTX collapse is taking things further, as they are suing SBF over his shares in Robinhood, as he allegedly pledged them to Blockfi as collateral but defaulted on the agreement.
According to the filing, the crypto lender has about $250 million in cash on hand, to help support certain operations during the restructuring process.
The bankruptcy filing mentions that there are more than 100,000 creditors, FTX.US in second place with $275 million.
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