BlockFi will file for chapter 11 bankruptcy.
According to an insider, the crypto company will file for chapter 11 bankruptcy protection today.
According to the source, BlockFi has also laid off most of its staff.
BlockFi, which offers crypto returns to its users, announced that it stopped withdrawals on November 11 after FTX filed for bankruptcy.
BlockFi used the following statements at that time:
“Like the rest of the world, we learned about this via Twitter.
We were shocked and appalled by the news regarding FTX and Alameda.”
After FTX filed for bankruptcy, a source from the company said that the company was considering filing for bankruptcy because it had too many investments related to FTX.
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