Block Financial Resources, LLC, widely known by its operating name BlockFi, was a financial services company founded in 2017 to provide wealth management products for cryptocurrency holders. Its core services included offering interest-earning accounts on cryptocurrency deposits and providing US dollar loans collateralized by crypto assets, aiming to bridge the worlds of traditional finance and blockchain technology. Following significant market turmoil and exposure to the collapsed FTX exchange, BlockFi halted client withdrawals in November 2022 and subsequently filed for Chapter 11 bankruptcy to stabilize the business. The company is now in a non-operational state, focused on winding down and distributing its remaining assets to clients and creditors as part of its confirmed bankruptcy plan.

Founded in

United States