BlockFills files Chapter 11
BlockFills, a Chicago crypto lender and trading firm, filed for Chapter 11 bankruptcy this week — a fresh sign of systemic stress in leveraged crypto markets reported. The filing is complicating liquidity across crypto trading desks and underscores macro risk for startups that accept crypto collateral or token‑linked revenue. Robotics firms exposed to tokenized fundraising or crypto payments may face secondary payment and treasury risks.
Reliz Ltd. and several affiliated BlockFills entities filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware on March 15, 2026 (blockfills.com). Court disclosures show BlockFills listed assets of roughly $50 million–$100 million and asserted liabilities in the range of $100 million–$500 million in its filing papers. (computing.net) The firm halted customer deposits and withdrawals in February after what reports describe as roughly $75 million in trading and liquidity losses, and those strains preceded CEO Nicholas Hammer’s resignation and the naming of Joseph Perry as interim CEO. (computing.net) A U.S. federal court granted a temporary restraining order in early March freezing about 70.6 BTC tied to a Dominion Capital claim, preventing transfers of those coins while the Southern District of New York case proceeds. (coindesk.com) BlockFills reported a counterparty network of roughly 2,000 institutional clients and named investors such as Susquehanna Private Equity Investments, CME Ventures and Nexo, signaling that its liquidity and custody relationships extend into market‑making and treasury services used by tokenized projects. (computing.net) BlockFills stated it will seek an orderly restructuring and explore strategic transactions under court supervision; Chapter 11 procedures typically involve pursuing debtor‑in‑possession financing or section 363 sales to preserve operations and pay estate administrative expenses. (blockfills.com)
