After FTX bankruptcy – crypto bank BlockFi stumbles – economy

According to a newspaper report, the collapse of the cryptocurrency exchange FTX drags BlockFi into the abyss. The crypto bank is preparing to file for bankruptcy, it wrote Wall Street Journal. At the beginning of the week, the company admitted that the bankruptcy at FTX had “significant” sums on fire. In addition, the moneylender stopped all withdrawals. In July, FTX had signed an option to buy BlockFi. According to insiders, at least one billion dollars in customer funds are said to have disappeared from FTX. The previous head of the company Sam Bankman-Fried rejected the allegation of secret transactions. According to the bankruptcy filing, more than a million creditors could file claims. The affair has thrown the entire cryptocurrency industry into turmoil. Bitcoin and Ethereum lost around 20 percent at times.

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