Tag: BlockFills

BlockFills Files Chapter 11 in Delaware: Susquehanna-Backed Institutional Crypto Lender Collapses Under $75M Lending Loss, $500M Liabilities Cap, Frozen Client Withdrawals, and a Dominion Capital Asset Freeze on 70.6 Bitcoin

On March 15, 2026, BlockFills — Chicago-based institutional crypto trading and lending firm backed by Susquehanna International Group — filed Chapter 11 bankruptcy via Reliz Ltd. in Delaware. Assets: $50M–$100M. Liabilities: $100M–$500M. Root cause: $75M in losses from lending, trading, and crypto mining following a counterparty default and Bitcoin's decline from $97K to $64K. Customer deposits/withdrawals frozen since February 2026. CEO Nicholas Hammer resigned; Joseph Perry became interim CEO. Dominion Capital's lawsuit resulted in 70.6 BTC being frozen. BRG and Katten Muchin Rosenman engaged pre-filing. Financial Times reported restructuring preparation on March 6. BlockFills processed $61B in 2025 trading volume.