BlockFi has sold about $239 million in cryptocurrency to pay for expected bankruptcy costs, and nearly 250 employees may be laid off

Encrypted lending firm BlockFi has sold about $239 million in cryptocurrencies to cover expected bankruptcy costs and warned nearly 250 employees, two-thirds of its 370-strong workforce, could lose their jobs, according to court documents, Bloomberg reported. about. In addition, BlockFi intends to reorganize in bankruptcy court rather than sell itself, but it is open to any transaction that can maximize creditors’ gains. “What users get in the end depends largely on whether other cryptocurrency participants perform The contract with BlockFi, and the outcome of the bankruptcy of the FTX Group".