Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

As expected, BlockFi declares bankruptcy and blames the fall of FTX

As expected, BlockFi declares bankruptcy and blames the fall of FTX

BlockFi announced on November 28 that it had filed for Chapter 11 bankruptcy. The corporation and its eight subsidiaries are the subjects of a bankruptcy application to the United States Bankruptcy Court for the District of New Jersey. People have been discussing FTX’s finances for days after the company’s collapse.

According to a release, BlockFi has $256.9 million in cash. To “keep employee salary and benefits in place without delay,” it has filed the proper documents. It has also created a strategy to minimize costs and “create a Key Employee Retention Plan to ensure the company stays strong.”

This message also includes news that BlockFi International has submitted a bankruptcy request to the Supreme Court of Bermuda.

About Tiffany Ellis

She is a smiley curious writer from the USA. She loves Cryptocurrencies, Arts an also NFTs.

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts