{"id":517362,"date":"2022-11-28T18:59:44","date_gmt":"2022-11-28T15:59:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles\/"},"modified":"2022-11-28T18:59:44","modified_gmt":"2022-11-28T15:59:44","slug":"blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles\/","title":{"rendered":"# BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cce750f4cc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cce750f4cc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles\/#%E2%80%9D_BlockFi_files_for_bankruptcy_as_many_expected_cites_FTX_collapse_for_its_troubles_%E2%80%9C\" >&#8221; BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BlockFi_files_for_bankruptcy_as_many_expected_cites_FTX_collapse_for_its_troubles_%E2%80%9C\"><\/span>&#8221; BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZjNiMDdhOTgtMjUyYS00NTZmLTk2Y2EtMWJiZGM3MWU5N2QwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>BlockFi announced on Nov. 28 that it has filed for Chapter 11 bankruptcy. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/pacer-documents.s3.amazonaws.com\/109\/1094078\/118164199368.pdf\">filing<\/a> in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several days of speculation on the company\u2019s financial health after the collapse of FTX.<\/p>\n<p>According to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20221128005451\/en\/\">statement<\/a>, BlockFi has $256.9 million on hand. It has filed motions \u201cto pay employee wages and continue employee benefits without disruption. It also seeks to \u201cestablish a Key Employee Retention Plan to ensure the company\u201d and has created an internal plan to reduce expenses.  <\/p>\n<p>BlockFi International has also filed for bankruptcy with the Supreme Court of Bermuda, according to the statement.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, BlockFi filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/adaAx6me4r\">https:\/\/t.co\/adaAx6me4r<\/a><\/p>\n<p>\u2014 BlockFi (@BlockFi) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BlockFi\/status\/1597253469374910466?ref_src=twsrc%5Etfw\">November 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><em>This is a breaking story that will be updated as it develops.\u00a0<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/blockfi-files-for-bankruptcy-as-many-expected-cites-ftx-collapse-for-its-troubles\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles &#8220; BlockFi announced on Nov. 28 that it has filed for Chapter 11 bankruptcy. The filing in the United States Bankruptcy Court for the District of New Jersey pertains to the company and its eight subsidiaries. The move comes after several&#8230;<\/p>\n","protected":false},"author":1,"featured_media":517363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZjNiMDdhOTgtMjUyYS00NTZmLTk2Y2EtMWJiZGM3MWU5N2QwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74860,74868,4978,117],"class_list":["post-517362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cryptocurrency-exchange","tag-defi","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=517362"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/517362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/517363"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=517362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=517362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=517362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}