BlockFi filed for Chapter 11 bankruptcy on Monday, following FTX’s bankruptcy earlier in the month. FTX’s affiliated trading firm, Alameda Research, defaulted on $680 million owed to BlockFi earlier this month. The crypto lender’s top 10 creditors alone are owed close to $1.2 billion, with the total amount of its liabilities to customers far higher. BlockFi halted withdrawals earlier this month after disclosing it had “significant exposure” to FTX.