Crypto lending platform BlockFills seeks restructuring after suspending withdrawals and faces litigation pressure.

Cryptocurrency trading and lending company BlockFills has sought restructuring advice from consulting firm BRG after temporarily suspending customer deposits and withdrawals due to "recent market and financial conditions." This week, a U.S. federal judge issued a temporary restraining order against BlockFills following allegations of mismanagement of client funds by a client, Dominion Capital. BlockFills stated it is actively exploring multiple avenues to optimize the company's financial position. Following the withdrawal suspension, BlockFills appointed Mark Renzi of BRG as Chief Transformation Officer. The new management team plans to complete the restructuring by introducing new capital and strengthening governance and financial controls. Headquartered in Chicago, the company's investors include Susquehanna Private Equity Investments and CME Group, and it serves institutional investors, high-net-worth clients, hedge funds, miners, and asset management firms. (The Block)