Cryptocurrency lender BlockFi Inc. is making ready a possible chapter submitting after halting withdrawals of buyer deposits and acknowledging it has “vital publicity” to bankrupt change FTX, individuals acquainted with the matter stated.
BlockFi paused withdrawals and limited activity on its platform final week, saying it couldn’t function enterprise as common given the uncertainty about FTX. BlockFi is now planning to put off a few of its employees whereas the troubled agency prepares for a attainable chapter 11 itself, individuals acquainted with the matter stated.
