BlockFi files for Bankruptcy

Following the collapse of FTX earlier this month, the crypto trading and lending platform BlockFi filed for chapter 11 bankruptcy.

This comes after revelations that BlockFi owed more than 275 million Dollars to FTX US.

The FTX contagion is still spreading in the crypto world and its effects are far from done yet. The world of finance is built on interconnected systems and relations which means an implosion in any of its constituents will mean repercussions for others.