BlockFi Eyes Bankruptcy as FTX Fallout Continues: Report

BlockFi is preparing to once again to lay off staffers as the crypto lender considers a possible bankruptcy filing, the Wall Street Journal reported Tuesday. The move, per the Journal’s report, is the latest contagion directly stemming from the sudden blow-up of crypto exchange FTX — which sent digital asset markets reeling and triggered a rush of big-money withdrawals from centralized exchanges into safer cold storage solutions. In an ironic twist, FTX in July had planned to acquire BlockFi outright for up to $240 million, depending on the startup’s performance triggers. That potential acquisition came with a precursor: a $400