BlockFi

Founded in 2017 by Zac Prince and Flori Marquez, BlockFi emerged as a prominent centralized finance (CeFi) platform aiming to bridge the worlds of traditional finance and blockchain technology. The company's primary services included the BlockFi Interest Account (BIA), which allowed clients to earn interest on their cryptocurrency deposits, and US dollar loans collateralized by crypto assets. It later expanded to include a crypto trading platform and a Bitcoin rewards credit card. However, following significant market turmoil and exposure to the collapse of crypto exchange FTX and its affiliate Alameda Research, BlockFi halted client withdrawals in November 2022 and subsequently filed for Chapter 11 bankruptcy protection. The company is now in the process of winding down its operations and distributing remaining assets to its clients and creditors.