BlockFi is one of the crypto lending platforms that was affected by the domino effect of the FTX exchange implosion. Indeed, the platform is facing Chapter 11 bankruptcy. BlockFi’s bankruptcy occurred in late November, suspending all operations when FTX collapsed following a liquidity crisis and allegations of misuse of FTX customers’ funds, perpetrated by the cryptocurrency exchange run by Sam Bankman-Fried. Now, the lending platform BlockFi is suing FTX founder Sam Bankman Fried to repossess shares in the trading platform Robinhood, which were pledged as collateral in early November, just days before the collapse of FTX BlockFi and the lawsuitGo to Source
Author: coinmaker