BlockFi has been an active participant in the cryptocurrency boom and had raised $350 million from investors including the crypto famous like Anthony Pompliano. The company’s statement said that filing for bankruptcy would result in its operations remaining unaffected, and users will reportedly be able to withdraw funds from accounts. “We look forward to responding promptly to all inquiries as our process moves forward.”

On Tuesday, news began to spread around social media about a cryptocurrency lender called BlockFi declaring bankruptcy.

On Tuesday, news began to spread around social media about a cryptocurrency lender called BlockFi declaring bankruptcy. BlockFi is a cryptocurrency lender that has raised $350 million from investors so far and had an initial coin offering (ICO) in late 2017. The company offers loans of up to $250,000 with interest rates ranging from 18% to 26%.

“BlockFi has filed for Chapter 11 bankruptcy protection in the Southern District of New York,” the company said in a statement on Twitter.

The FTX contagion has been spreading across the world, with BlockFi filing for bankruptcy protection in the Southern District of New York. BlockFi has filed for Chapter 11 bankruptcy protection in the Southern District of New York,” the company said in a statement on Twitter.

“BlockFi is confident that its restructuring will allow it to emerge from its current financial distress as an operating entity and continue serving customers in a sustainable manner.”

The company’s statement said that filing for bankruptcy would result in its operations remaining unaffected, and users will reportedly be able to withdraw funds from accounts.

The company’s statement said that filing for bankruptcy would result in its operations remaining unaffected, and users will reportedly be able to withdraw funds from accounts.

BlockFi was not insolvent at the time of its announcement, but it was in debt to creditors. As such, the company decided to file for voluntary bankruptcy protection as a way of paying back its creditors and keeping itself afloat while it works through its debts.

It’s unclear how much money BlockFi owes lenders or when they’ll receive their portion of what they’re owed. However, according to sources close to the matter who spoke with Reuters (and here), some hedge funds have already filed claims against BlockFi over $100 million worth of bonds issued by the company before it began operating as an online lender in late 2017—and some are asking for more than double that amount based on today’s market value per share at $2 per share versus $0 earlier this week when news broke about BlockFi’s financial troubles!

“We look forward to responding promptly to all inquiries as our process moves forward,” the statement added.

“We look forward to responding promptly to all inquiries as our process moves forward,” the statement added.

BlockFi’s move comes amid growing concerns that its platform could be used by fraudsters and scammers, who could take advantage of its user base in order to trick people into paying up-front fees for loans they never receive.

Even though many in the crypto community had not heard of BlockFi until today, its investors include high-profile players like Galaxy Digital Ventures, Morgan Creek Digital and Winklevoss Capital.

Even though many in the crypto community had not heard of BlockFi until today, its investors include high-profile players like Galaxy Digital Ventures, Morgan Creek Digital and Winklevoss Capital.

In 2017, Zac Prince founded BlockFi as one of the first cryptocurrency lenders. The company has raised $350 million so far from investors such as Galaxy Digital Ventures (Galaxy), Morgan Creek Digital (MCD) and Winklevoss Capital (WC).

We are all still learning about BlockFi and its recent bankruptcy filing. We have reached out to the company for more information, but we will update this article if we hear back.

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