#Blockfi #Crypto #finance
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Blockfi has officially gone bankrupt, We all saw this coming once they froze withdrawals a few weeks ago. This hasn't really effected the prices of Bitcoin or crypto, because once they froze withdrawals everyone already wrote them off as being bankrupt. It really is not looking good if you have money on Blockfi, they only have something like $275 Million in cash and just their top 10 creditors are over $1 billion. Anytime something like this happens its the rich people that get their money back first and if there is anything left everyone else could get something. Looks like they do not even have enough for their top 10 creditors, so the odds of getting anything might be pretty slim.

Also, the big question now is what is the contagion from this going to be. Will there be more companies that were connected to Blockfi that go under because of blockfi's bankruptcy. I do not think we have even seen all the effects of FTX going under, so I would imagine if a crypto company could survivor FTX collapse, maybe this Blockfi collapse could push them over. Ether way there are definitely going to be more companies that go under and we just haven't seen it or got the news yet.

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