Odaily News According to related court documents, Chicago-based crypto brokerage and trading platform BlockFills has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. The company's operating entity, Reliz Ltd., submitted a voluntary petition for reorganization on Sunday.
The filing shows that the company's estimated assets range between $50 million and $100 million, while its estimated liabilities range between $100 million and $500 million. The platform had previously suspended customer deposits and withdrawals in February of this year, indicating escalating liquidity pressure.
In a statement, BlockFills said that initiating the Chapter 11 reorganization process was the "most responsible choice" after communicating with investors, clients, and creditors. The goal is to complete the restructuring under court supervision to maximize recovery value for all parties.
The bankruptcy filing also lists major unsecured creditors, including 007 Capital LLC (approximately $17.1 million), the Richard E. Ward Revocable Trust (approximately $9.4 million), and Artha Investment Partners LLC (approximately $6.9 million). Other creditors include the Japanese crypto trading platform SBI VC Trade and Nexo Capital. (Bloomberg)
