Bitcoin plunges near $16,000 after BlockFi declares bankruptcy

Bitcoin plunges near $16,000 after BlockFi files for bankruptcy. During the day, the price of Bitcoin fell 1.39% to $16,219.68.

Bitcoin surpassed $69,000 in November 2021, the highest level in history, before falling below $20,000 in June 2022.

The founder of Mobius Capital Partners says that bitcoin will continue its downward trend. It will reach the $10,000 mark and that the company will not invest its funds or those of its clients in digital assets because the risk is too great.

BlockFi filed for bankruptcy yesterday.

The company filed for receivership under Section 11 in the US District Court of New Jersey.

BlockFi filed for bankruptcy yesterday.

The company filed for receivership under Section 11 in the US District Court of New Jersey.

BlockFi is a cryptocurrency depository and trading platform company. It is one of many companies affected by the collapse of FTX, the world’s second largest cryptocurrency trading platform.

Earlier, BlockFi announced the suspension of customer withdrawals. It acknowledged that the business had been hit hard by FTX’s bankruptcy.

FTX filed for bankruptcy on Nov. 11 with more than 1,000,000 creditors, while about 130 of its subsidiaries filed for bankruptcy. These include Alameda Research and FTX.us. FTX became a bankrupt company within days, with original assets of more than $30 billion.

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