The digital asset lender has filed for Chapter 11 bankruptcy in New Jersey, the company said in a statement Monday.
Citing “a lack of clarity” about the status of bankrupt companies FTX and Alameda Research, the Jersey City, New Jersey-based company earlier halted withdrawals and said it was exploring “all options” with outside advisers.
BlockFi received a capital injection from now-bankrupt FTX US in July and had also guaranteed loans for Alameda Research, the trading company of Sam Bankman-Fried.