Cryptoprowl.com / Chicago-based cryptocurrency trading firm BlockFills has filed for bankruptcy, citing the ongoing downturn in digital assets and its toll on the business.
Over the weekend, privately held BlockFills filed for Chapter 11 protection from its creditors in the U.S. Bankruptcy Court for the District of Delaware.
The court filing showed BlockFills reporting assets of $50 million U.S. to $100 million U.S. and liabilities of $100 million U.S. to $500 million U.S.
"After extensive discussions with investors, clients, creditors, and other stakeholders, BlockFills has determined that a voluntary chapter 11 filing is the most responsible path forward," said the company in a written statement.
BlockFills is a crypto trading and lending firm that provides liquidity, financing, and risk-management services primarily to institutional clients.
Its platform facilitates crypto lending and borrowing, derivatives trading, and general trading for hedge funds, asset managers, and mining companies.
However, BlockFills faces lawsuits from some creditors, alleging that the company misappropriated millions of dollars in customer cryptocurrency assets and concealed its losses.
BlockFills said on Feb. 11 of this year that it was halting customer withdrawals and deposits due to recent market and financial conditions, drawing the ire of many institutions.
BlockFills subsequently reported that it had lost about $75 million U.S. and was seeking a buyer or emergency funding to continue operations.
BlockFills co-founder and CEO Nicholas Hammer has since stepped down from his leadership role. Joseph Perry has been named the company’s interim CEO.
BlockFills said it processed more than $60 billion U.S. in trading volume in 2025, up 28% from the previous year.
The firm had served about 2,000 institutional clients, including several hedge funds, helping them to trade cryptocurrencies such as Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH).
BTC is currently trading at $73,800 U.S. per digital token.
COMTEX_475373128/2797/2026-03-16T14:10:55