Another One Bites the Dust: BlockFi Files for Potential Bankruptcy
Crypto has been beaten down bad. And the news keeps on coming. This time, it looks like crypto exchange, BlockFi is in serious danger. It’s been reported that BlockFi files for potential bankruptcy. This is increasingly concerning with the FTX saga fallout. For more crypto-related news, be sure to visit our Crypto page.
BlockFi Files for Potential Bankruptcy
The news just keeps on coming.
BlockFi, who was known for their snazzy, black ‘bitcoin credit card’ is preparing to file for potential bankruptcy.
This is a developing story.
JUST IN: Crypto lender BlockFi is preparing for potential bankruptcy following the FTX collapse, WSJ reports.
— Watcher.Guru (@WatcherGuru) November 15, 2022
For anyone with coins on the exchange, it might be time to get them off ASAP.
What a crazy time in crypto, folks.
We aren’t quite sure what happened, but this is feeling a lot like the tech bubble bursting in the early 2000’s.
We still don’t have many details, but plan on doing a deeper dive once more is known.
I remember when their first Bitcoin credit card had an extremely long waiting list. Thankfully, my spot in line never got called.
So, BlockFi files for potential bankruptcy. What does that mean for the other exchanges?
Well, the only reputable one left seems to be Coinbase, but it would take some serious conviction to leave your crypto sitting on that right now.
[…] BlockFi has reportedly filed for bankruptcy. I wrote that this was a possibility a few weeks ago here, and now it’s […]