Decrypt - Crypto Lender BlockFi Filing for Bankruptcy and Conducting Major Layoffs as FTX Contagion Claims Another: Source

in blockchain •  2 years ago 

https://decrypt.co/115744/crypto-lender-blockfi-files-bankruptcy-ftx-contagion-claims-another
Screenshot_20221130-185022_Chrome.jpg

BlockFi is a crypto lender that allows users to earn by depositing idle cryptocurrency on its platform.

About a week after BlockFi cut about 20% of its workforce in June, the company announced a $250 million revolving credit facility with FTX.

BlockFi first stopped withdrawals on November 11, the same day FTX filed for bankruptcy.

Finally, today, BlockFi is filing for bankruptcy protection.

Screenshot_20211106-080453_DesignEvo.jpg

blockchain horror bankrupt blockfi crypto lender layoff ftx
2 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.46
  • Past Payouts $0.46
  • - Author $0.23
  • - Curators $0.23
78 votes
0
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!