Decrypt - Crypto Lender BlockFi Filing for Bankruptcy and Conducting Major Layoffs as FTX Contagion Claims Another: Source

blockchainhorror (72)in #blockchain • last year

BlockFi is a crypto lender that allows users to earn by depositing idle cryptocurrency on its platform.

About a week after BlockFi cut about 20% of its workforce in June, the company announced a $250 million revolving credit facility with FTX.

BlockFi first stopped withdrawals on November 11, the same day FTX filed for bankruptcy.

Finally, today, BlockFi is filing for bankruptcy protection.

last year in #blockchain by blockchainhorror (72)

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