The collapse of FTX had already forced BlockFi to suspend most activity on its platform.
The troubled crypto firm BlockFi has filed for bankruptcy in the US, as the dramatic collapse of FTX continues to reverberate across the industry.BlockFi said it was seeking court protection to restructure, settle its debts and recover money for investors.
But FTX, a crypto exchange, ran into its own problems this month, as people rushed to pull money from the platform amid doubts about its finances. It also owes $30m to the US financial regulator, the Securities and Exchange Commission, which earlier this year found the firm had failed to properly register its products and misled the public about the risk levels in its loan portfolio and lending activity.
Founded in 2017, BlockFi had promoted itself as building a bridge between cryptocurrencies and traditional financial products.
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