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BlockFi

Crypto lendingUSA
💀 Dead / Bankrupt
Peak $3 BillionToday
~-100%
from peak
  1. 🦄
    Became a unicorn
    Mar 2021
  2. 📈
    Peak valuation
    $3 Billion ’21
  3. 💔
    Became a Unitard
    Nov 2022
  4. 💸
    Last valuation
    ~$0
Current status
Chapter 11 (Nov 2022)

How it happened

BlockFi was a US crypto lending platform offering interest-bearing accounts and crypto-backed loans, valued at about $3B in 2021. It faced regulatory scrutiny and was heavily exposed to the collapse of FTX and related entities in 2022. BlockFi filed for Chapter 11 bankruptcy in November 2022 and subsequently wound down, erasing essentially all of its value.

Source: Blockworks/Cleary Gottlieb