Summary
- Blockfills is reportedly pursuing a sale after posting $75 million in loan losses amid the recent market decline.
- Blockfills reportedly took steps to halt customer deposits and withdrawals last week as financial pressures mounted following significant losses.
- Blockfills is reviewing the possibility of a sale while exploring strategic alternatives, as concerns over the financial health of crypto lending and liquidity providers grow.
Blockfills, a cryptoasset (cryptocurrency) lending platform, is reportedly pursuing a sale after suffering about $75 million in loan losses due to the recent market decline.
According to crypto-focused media outlet CoinDesk on the 19th (local time), Blockfills incurred substantial losses amid a recent surge in market volatility, adding to its financial strain. The company is said to have halted customer deposit and withdrawal transactions last week.
The outlet reported that Blockfills is reviewing the possibility of a sale as it explores strategic alternatives. Specific potential buyers or deal terms were not disclosed.
As sharp price swings continue in the cryptoasset market, concerns are also growing over the financial health of some firms that provide lending and liquidity services.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
