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Another crypto lender is preparing for bankruptcy

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Crypto lender is reportedly preparing for bankruptcy amid uncertainty with FTX

It looks like another crypto lender is preparing for bankruptcy.

Block-Fi is the lender in question, according to Bloomberg.

The chain was put withdrawals on hold, and comes amid uncertainty with FTX.

FTX and Block-Fi are tied together, in July the company shared 400 million dollars in credit lines.

It’s believed he deal also came with an option to purchase the company.

Block-Fi representatives are yet to comment on the matters.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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