SEC Might Use BlockFi as Object Lesson for Clear Crypto Regulation, Says Ex-SEC Official

Earlier this week, BlockFi filed for Chapter 11 chapter safety after pausing withdrawals, citing contagion issues brought on by the collapse of Bahamas-based crypto change FTX. FTX is present process its personal chapter proceedings after a CoinDesk report revealed FTX’s sister firm, Alameda Analysis, was propped up with a big quantity of FTX’s native token, FTT. BlockFi, which as soon as obtained a line of credit score from FTX, mentioned it had upwards of $355 million in crypto belongings frozen on the beleaguered change.

Source link