BlockFi files for bankruptcy, as rumored | Forexlive

This has been rumored since the downfall of FTX and most thought it was coming last week. Even though it’s not a surprise, there’s always the risk of counterparty calls on capital and dominoes falling. The company says it has $256.9m in cash on hand, which should support ongoing activities. It also said platform activities will remain suspended at this time.

However the headline itself shouldn’t be a big market mover in crypto, which is trading is a curiously tight range today.