Crypto Lender Blockfills Files for Chapter 11 Bankruptcy

According to The Block, the crypto lending firm sought Chapter 11 bankruptcy protection after weeks of turmoil.

Summary

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Terms & Concepts
  • Chapter 11 bankruptcy: A U.S. court process that allows a company to reorganize its debts while continuing operations under legal protection.
  • Crypto lender: A digital asset firm that provides loans tied to cryptocurrencies, often serving traders, institutions, or crypto holders.