BlockFi files for Chapter 11 bankruptcy protection

Published November 28, 2022 8:52 AM

By MICHELLE CHAPMAN
AP Business Writer

Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection as the fallout from the collapse of FTX continues. BlockFi said Monday that it was filing for bankruptcy protection to stabilize its business and give it the chance to perform a restructuring. The company said its restructuring will include recovering all obligations that it is owed by its counterparties, including FTX and associated corporate entities. BlockFi said it anticipates recoveries from FTX will be delayed.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

News Channel 3 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.