The FTX contagion continues unabated. Today, following weeks of rumors, crypto lender BlockFi filed for Chapter 11 bankruptcy protection, with a source telling Decrypt that the company is conducting large-scale layoffs as well. BlockFi cut off customer withdrawals earlier this month as crypto exchange FTX collapsed, having tapped FTX US for a $250 million line of credit this summer amid earlier struggles for the lender. There’s no rest for the battered crypto industry following the long holiday weekend.
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