BlockFi introduced on Nov. 28 that it had filed for Chapter 11 chapter. That submission in america Chapter Court docket for the District of New Jersey impacts the corporate and its eight subsidiaries. The transfer comes after a number of days of hypothesis in regards to the firm's monetary well being following FTX's collapse.
in response to a expression, BlockFi has $256.9 million. It has made requests to “pay staff wages and proceed worker advantages with out interruption. It is also attempting to "put in place a key worker retention plan to maintain the enterprise safe" and has created an inner plan to cut back spending.
BlockFi Worldwide has additionally filed for chapter within the Bermuda Supreme Court docket, in response to the assertion.
Right this moment, BlockFi filed voluntary actions below Chapter 11 of the U.S. chapter legal guidelines.https://t.co/adaAx6me4r
– BlockFi (@BlockFi) November 28, 2022
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