Crypto Lender BlockFi Preps For Possible Bankruptcy Filing After FTX's Woes: WSJ

BlockFi is preparing a potential bankruptcy filing thanks to its "significant exposure" to bankrupt FTX, reports the WSJ.

While denying rumors that a majority of its assets were custodied at FTX, BlockFi yesterday did acknowledge significant exposure in the form of not just assets on deposit with the exchange, but other obligations owed to BlockFi by FTX as well as an undrawn line of credit from FTX.

BlockFi didn't immediately respond to CoinDesk's request for comment regarding the bankruptcy filing.