BlockFi filed for bankruptcy Monday, after weeks of speculation about the company’s solvency after it paused withdrawals earlier in November. The lender had been relying on a $400 million line of credit from crypto exchange FTX, which itself filed for bankruptcy earlier this month after doubts emerged about its own solvency following a CoinDesk report revealing FTX’s sister company Alameda held a large amount of FTX’s exchange token, FTT.

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