Cryptocurrency lender BlockFi is preparing to file for bankruptcy, WSJ reports, citing people familiar with the matter

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In the latest fallout from the swift collapse of FTX, cryptocurrency lender BlockFi is said to be preparing a potential bankruptcy filing, the Wall Street Journal reported, citing unnamed people familiar with the matter. The move comes after the lender halted withdrawals on customer deposits and acknowledged having significant exposure to FTX, the newspaper said. BlockFi paused withdrawals and limited activity on its platform last week, according to the Wall Street Journal.

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