Another crypto lending platform files for Chapter 11 bankruptcy

Crypto trading and lending steadfast Blockfills has filed for Chapter 11 bankruptcy successful the United States.

This is the latest setback for a once-prominent organization crypto table and the broader crypto lending market.

The filing comes aft months of fiscal pressure, a impermanent halt connected lawsuit withdrawals and increasing ineligible disputes with counterparties.

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Founded arsenic an organization crypto trading desk, Blockfills built its estimation for offering liquidity, commercialized execution and lending services to hedge funds, plus managers and mining companies.

Backed by investors including Susquehanna Private Equity Investments and CME Group’s task arm, the steadfast served much than 2,000 organization clients crossed implicit 95 countries.

At its peak, Blockfills reported processing much than $61 cardinal successful transaction measurement successful 2025. It was a 28% summation from the erstwhile year.

However, the broader downturn successful integer plus markets reportedly resulted successful astir $75 cardinal successful losses, according to reports citing anonymous sources.

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Court documents amusement that Reliz Ltd., an entity tied to Blockfills, filed a voluntary Chapter 11 petition successful the U.S. Bankruptcy Court for the District of Delaware connected March 15, 2026.

In a connection released connected March 15, Blockfills described the bankruptcy filing arsenic “the astir liable way forward."

The steadfast besides said the court-supervised restructuring would assistance stabilize the concern and research imaginable strategical alternatives.

"The BlockFills squad has worked diligently to prosecute and measure each disposable strategical and fiscal alternatives and believes initiating a section 11 process, with the volition of consummating a consensual restructuring with our clients and creditors, volition supply the indispensable clip and operation to stabilize the business, prosecute further sources of liquidity and recovery, and research imaginable strategical transactions."

The filing indicates the company’s estimated assets and liabilities autumn wrong the $100 cardinal to $500 cardinal range, suggesting a sizable restructuring effort for the steadfast and its creditors.

The committee of Reliz Ltd. antecedently approved the bankruptcy filing aft reviewing the firm’s liabilities, liquidity constraints, and disposable strategical options, according to interior resolutions attached to the tribunal petition.