{"id":36901,"date":"2023-01-29T09:29:27","date_gmt":"2023-01-29T09:29:27","guid":{"rendered":"https:\/\/lydian.io\/?p=36901"},"modified":"2023-01-29T09:29:27","modified_gmt":"2023-01-29T09:29:27","slug":"blockfi-files-for-bankruptcy-as-many-expected-citing-ftxs-collapse-for-its-troubles","status":"publish","type":"post","link":"https:\/\/lydian.io\/blockfi-files-for-bankruptcy-as-many-expected-citing-ftxs-collapse-for-its-troubles\/","title":{"rendered":"BlockFi files for bankruptcy as many expected, citing FTX's collapse for its troubles","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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BlockFi introduced on Nov. 28 that it had filed for Chapter 11 chapter. That submission<\/a> 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.<\/p>\n in response to a expression<\/a>, BlockFi has $256.9 million. It has made requests to \u201cpay 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. <\/p>\n BlockFi Worldwide has additionally filed for chapter within the Bermuda Supreme Court docket, in response to the assertion.<\/p>\n Right this moment, BlockFi filed voluntary actions below Chapter 11 of the U.S. chapter legal guidelines.https:\/\/t.co\/adaAx6me4r<\/a><\/p>\n \u2013 BlockFi (@BlockFi) November 28, 2022<\/a><\/p>\n It is a groundbreaking story that can be up to date as improvement continues. <\/p>\n