Blockfills, a Chicago-based crypto buying and selling agency, has filed for chapter, because the crypto winter takes its toll on the business.
On Sunday, BlockFills operator Reliz Ltd. and three affiliated entities filed voluntary Chapter 11 restructuring petitions within the U.S. Chapter Court docket for the District of Delaware, in accordance with paperwork seen by CoinDesk.
The court docket submitting reveals Reliz reporting property between $50 million and $100 million towards liabilities of $100 million to $500 million, a stark indicator of the mounting pressures in its crypto buying and selling operations.
The corporate determined to file for chapter after consulting all stakeholders, it stated in an official assertion.
“After in depth discussions with traders, purchasers, collectors, and different stakeholders, BlockFills has decided that a voluntary chapter 11 submitting is essentially the most accountable path ahead so as to protect the worth of the enterprise and maximize recoveries for stakeholders. This submitting will permit the agency to implement an orderly restructuring whereas sustaining transparency and oversight by means of the court-supervised course of,” it stated.
“To that finish, on March 15, 2026, sure BlockFills-related entities filed a voluntary petition to restructure beneath Chapter 11 of the U.S. Chapter Code within the U.S. Chapter Court docket for the District of Delaware,” it added.
CoinDesk reported final month that the crypto lender had misplaced about $75 million and was looking for a purchaser or emergency funding.
BlockFills is a crypto buying and selling and lending agency that gives liquidity, financing and risk-management companies to institutional purchasers. Its platform facilitates crypto lending and borrowing, derivatives buying and selling and over-the-counter (OTC) execution for hedge funds, asset managers, market makers and mining corporations.
The corporate is backed by institutional traders together with Susquehanna Personal Fairness Investments, CME Ventures, Simplex Ventures, C6E and Nexo Inc.
A U.S. federal decide issued a brief restraining order (TRO) towards BlockFills final week in a lawsuit introduced by Dominion Capital.
Dominion alleged that the agency had misappropriated and improperly retained thousands and thousands of {dollars} in buyer crypto property, commingled consumer funds and hid important losses.
BlockFills stated on Feb. 11 it was halting buyer withdrawals and deposits resulting from latest market and monetary situations.
The corporate stated on the time it was working with traders and purchasers to achieve a swift decision and restore liquidity to the platform. CoinDesk later reported that the crypto lender had misplaced about $75 million and was looking for a purchaser or emergency funding.
CoinDesk additionally reported that BlockFills co-founder and CEO Nicholas Hammer had stepped down from his management function. Joseph Perry is the agency’s interim CEO.
BlockFills stated it processed greater than $60 billion in buying and selling quantity in 2025, up 28% from the prior 12 months, and is among the many extra energetic institutional crypto lending and borrowing desks. The agency serves about 2,000 institutional purchasers, together with hedge funds, asset managers and mining corporations.
Learn extra: U.S. decide freezes BlockFills property in dispute over 70 bitcoin with creditor Dominion Capital