Crypto lender BlockFi files for Chapter 11

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(Reuters) – U.S. cryptocurrency lender BlockFi said on Monday it had filed for Chapter 11 bankruptcy protection along with eight affiliates in a New Jersey court, the latest casualty since FTX’s collapse earlier this month triggered instability in the crypto market. In a court filing, New Jersey-based BlockFi said it owes money to more than 100,000 creditors. It listed crypto exchange FTX as its second-largest creditor, with $275 million owed on a loan extended earlier this year. COMMENTS: MARTHA REYES-HULME, HEAD OF RESEARCH, BEQUANT, LONDON “The BlockFi bankruptcy is a sad chapter in the sho…

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