During a press conference, Blockfi has officially filed for bankruptcy protection where eight of its partners are also involved. Crypto Forms states that the plans are to stabilize its business and provide the company with an opportunity to utilize a restructuring and transaction with the main goal being to maximize profits for all customers and investors. It cited FTX as saying that during that period the company had taken security measures which were necessary and in terms of which the customer could be satisfied. On November 10, 2022, Blockfi was reported to have frozen its entire withdrawal and in a special announcement assumed that FTX would buy Blockfi as the company said in July that the exchange was in talks to acquire the crypto lender. The option remained.
Wherein it was elaborated by Mar Renzi, Financial Advisor of the Company that the management team and the Board of Directors took immediate actions for the overall safety of the customers and the Company and worked to give a positive shape to the Crypto Currency industry and move forward in the field where the Company is in A transparent process has always been followed which definitely provides the best services to all the customers and investors as well as gives new new investment opportunities and new possibilities to the customers.
Compute North, Voyager Digital, Celsius, Three Arrows Capital and FTX have all filed for bankruptcy protection after dealing with financial problems and alleged multiple problems and asset transactions 6 months ago. The latter are said to be related to the Terra blockchain implosion.
Blockfi is now one of the many digital currency and business dealing with significant financial difficulties and bankruptcy proceedings in 2022 that will try to give up. It was said by the company that it introduces new possibilities and new offers to the customers as well as maintains transparency so that the customers have a successful experience of being associated with the company and it is constantly updated and connected with the company. Moves forward in new positive steps. Further, the company says that it will always do its best to deal with financial problems and improve blockchain transactions and work for better services after the bankruptcy filing. As it is worth mentioning that at this time in which industry there is despair because very bad things are happening which is not right in any sense and this time is not suitable for any company and investors. While the company is constantly taking various steps for improvement, steps are being taken in a dynamic direction to provide a simulation experience to the users and an action plan is being prepared to deal with the issues and the times ahead will be favorable to its customers and the company will have more chances to enhance its customer service experience and hope to provide the latest and best capabilities to its customers and reach targeted with organic traffic.
