Bitcoin Exchange BlockFills Files Chapter 11

BlockFills Files for Chapter 11 Bankruptcy Amid Market Volatility

• BlockFills has filed for Chapter 11 bankruptcy following the suspension of trading and withdrawals.
• The filing involves BlockFills’ parent company, Reliz Technology Group Holdings Inc., and three affiliates in the US Bankruptcy Court for the District of Delaware.
• The company’s assets are estimated between $50 million and $1 billion, with liabilities ranging from $100 million to $500 million.
• There are between 1,000 and 5,000 creditors, with the largest unsecured claim held by 007 Capital LLC at approximately $17 million.
• K&H Crypto LLC is the largest disclosed shareholder with a 17% equity stake; two unnamed shareholders each hold 25% stakes.

BlockFills has entered Chapter 11 bankruptcy to preserve business value amid market volatility. The company estimates significant asset-liability discrepancies, impacting numerous creditors including major stakeholders like K&H Crypto LLC.