Blockfills co-founder Nicholas Hammer steps down as CEO amid liquidity strain and loss fallout

Nicholas Hammer, co-founder of crypto lending firm Blockfills, has stepped down as chief executive officer (CEO).

According to a CoinDesk report on the 26th (local time), Hammer recently resigned from the CEO post. Blockfills’ official website currently lists Joseph Perry as interim CEO. The company confirmed that Hammer served as CEO until July 2025.

The leadership change comes after the firm halted customer deposits and withdrawals due to a liquidity shortfall. On the 11th of this month, Blockfills suspended all deposits and withdrawals of customer funds on its platform.

The report said the company had advised some clients to withdraw crypto assets ahead of the suspension. Withdrawals of customer funds have yet to resume.

Blockfills is also said to be exploring a sale following recent losses. In a statement on the 11th, the company said it is working with investors and clients to restore liquidity and resolve the issues. At the time, it noted that “customers can still trade to open and close positions in spot and derivatives markets.”

Based in Chicago, Blockfills processed more than $60 billion in trading volume as of 2025 and has around 2,000 institutional clients, including hedge funds, asset managers, and mining firms.

The company has received investments from Susquehanna Private Equity Investments, CME Ventures, Simplex Ventures, C6E, and Nexo, and raised $37 million in a Series A round in January 2022.