Bitcoin Languishes Near $16K as BlockFi Bankruptcy Keeps Crypto Credit Contagion Concerns in Focus

US-based cryptocurrency lending and borrowing platform BlockFi, formerly one of the biggest in the cryptocurrency space, filed for Chapter 11 bankruptcy protection on Monday. The company indicated that it hopes to restructure and will continue operations for the time being. The platform, which gives depositors yield on their crypto holdings, had halted withdrawals earlier this month amid uncertainty due to cryptocurrency exchange FTX’s spectacular collapse.... Read More: Bitcoin Languishes Near $16K as BlockFi Bankruptcy Keeps Crypto Credit Contagion Concerns in Focus