Odaily Planet Daily News: Keyrock, a crypto infrastructure and capital markets company, has completed the acquisition of BlockFills' institutional trading and brokerage business. This transaction brings BlockFills' trading technology, institutional client relationships, and derivatives trading team to Keyrock. According to the announcement, the acquisition also expands Keyrock's regulatory footprint, granting it a CIMA-registered entity in the Cayman Islands, with plans to obtain FCA authorization in the UK. Keyrock did not disclose the acquisition price. Based on previous court documents and reports, Keyrock was selected in the BlockFills bankruptcy reorganization process with a bid of $3.25 million.

Odaily Planet Daily News: Digital asset firm Keyrock plans to acquire bankrupt crypto trading and lending company BlockFills for $3.25 million, a deal that still requires court approval. BlockFills filed for Chapter 11 bankruptcy protection in the U.S. in March, reporting liabilities of $100 million to $500 million and assets of $50 million to $100 million. The acquisition will enable Keyrock to gain access to BlockFills' institutional client network, which includes hedge funds, asset management firms, market makers, and mining companies. (CoinDesk)

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)

Odaily News: Crypto trading and lending firm BlockFills has sought restructuring advice from consulting firm BRG. This follows the company's temporary suspension of client deposits and withdrawals due to "recent market and financial conditions."This week, a U.S. federal judge issued a temporary restraining order against BlockFills after a client, Dominion Capital, accused the company of mismanaging client funds. BlockFills stated it is actively exploring multiple avenues to position the company optimally.Following the withdrawal suspension, BlockFills appointed BRG's Mark Renzi as Chief Transformation Officer. The new management plans to complete the restructuring by introducing new capital and strengthening governance and financial controls. The company, headquartered in Chicago with investors including Susquehanna Private Equity Investments and CME Group, serves institutional investors, high-net-worth individuals, hedge funds, miners, and asset management firms. (The Block)

Odaily News: Nicholas Hammer, co-founder and CEO of the crypto lending firm Blockfills, has stepped down from his leadership role. According to company information, Joseph Perry is currently serving as the interim CEO.This management change comes as the company faces operational pressures. Blockfills previously reported losses of approximately $75 million due to deteriorating market conditions and suspended customer deposits and withdrawal services on February 11th. These services have not yet been restored.Sources indicate that the company advised some clients to withdraw their assets in advance before officially freezing deposits and withdrawals. Blockfills stated that clients can still open and close positions for spot and derivatives trading under specific circumstances, and the company is working with investors and clients to restore platform liquidity.Headquartered in Chicago, Blockfills processed over $60 billion in trading volume in 2025. Affected by the market downturn, the company is reportedly seeking potential acquirers.

Odaily News: Cryptocurrency lending platform BlockFills posted on X platform to respond to the suspension of deposit and withdrawal services, stating that the decision was made based on recent market conditions, aiming to further protect the interests of customers and the company. Users can still continue to open and close positions for spot and derivative trades through BlockFills, as well as conduct other specific transactions. Currently, the company's management is working closely with investors and clients to formulate a liquidity recovery plan, striving to quickly resolve this issue and restore platform liquidity. Updates will be provided regularly to clients based on developments.

Odaily News According to market sources: Cryptocurrency lending platform BlockFills has suspended customer withdrawals. This move comes amidst ongoing volatility in the digital asset market, and further information may be disclosed subsequently.

According to Odaily Planet Daily, zachxbt reports that Danny/Meech, also known as Danish Zulfiqar (Khan), has been arrested by law enforcement and his crypto assets have been seized. Currently, assets worth $18.58 million are stored at address 0xb37d617716e46511E56FE07b885fBdD70119f768. This threat actor was involved in the $243 million Genesis creditor theft in August 2024 with Malone, Veer, Chen, and Jeandiel, and the Kroll SIM Swap incident in August 2023 that led to the breach of PII for BlockFi, Genesis, and FTX creditors, resulting in losses exceeding $300 million. Multiple addresses tracked by zachxbt linked to this actor transferred funds to address 0xb37d several hours ago, following a pattern similar to other law enforcement seizures.

Odaily Planet Daily reports that Haseeb, Managing Partner of Dragonfly, wrote on the X platform that the current bear market may be the "easiest" bear market yet. Many people seem to have forgotten what 2022 was like: Luna crashed, then 3AC, then FTX, then Genesis, BlockFi, Axie, NFTs—almost everything teetered on the brink of collapse, like a house of cards. Then, after all that collapsed, banks failed, stablecoins went detached from their pegs, and Gary Gensler attempted to destroy almost every company in the industry. In comparison, the current market situation is "a piece of cake" compared to 2022; although prices have fallen, the fundamentals remain strong.

A US court has received the latest development in the BlockFi class action lawsuit, with the final objector, Yacov Baron, withdrawing his motion to intervene and his objection to the compensation agreement. The settlement, which covers approximately 89,000 interest account holders whose funds were frozen following the collapse of the BlockFi platform, is for $13.2 million and is expected to be approved soon. BlockFi's bankruptcy began during the 2022 crypto winter, triggered by the collapse of Do Kwon's TerraUSD stablecoin, ultimately leading to a severe liquidity crisis due to its $680 million exposure to FTX. BlockFi filed for bankruptcy protection a day after FTX filed for bankruptcy. (Decrypt)