Belgian digital asset service provider Keyrock plans to acquire the bankrupt cryptocurrency trading and lending platform BlockFills for $3.25 million, pending court approval. According to bankruptcy documents, Keyrock will acquire most of BlockFills' assets, some liabilities, customer lists, as well as proprietary technology and intellectual property. BlockFills filed for U.S. Chapter 11 bankruptcy protection in March this year, with reported assets between $50 million and $100 million, and liabilities between $100 million and $500 million. The company had previously suspended customer deposits and withdrawals and was seeking buyers or emergency financing. (CoinDesk)

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CWMiner
· 06-04 13:03
Assets worth 50 million were sold for just 3.25 million—creditors were overwhelmed to the point of fainting in tears, and Keyrock swooped in to snap up a huge “big steal.”
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BorrowedHalo
· 06-03 22:00
BlockFills liabilities reach up to 500 million, assets only 100 million, Keyrock what’s going on? Is the client list worth this much?
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SushiBackrunner
· 06-02 07:50
Another CeFi platform has fallen. BlockFills was still operating normally in March, and then it was gone without warning.
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Cream-ColoredCross-ChainBridge
· 06-01 21:31
Proprietary technology? Are there any core algorithms in BlockFills that Keyrock can't handle on its own? Just curious.
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AirdropDreamsInAGlassBottle
· 06-01 21:25
This price probably isn't even comparable to BlockFills' revenue for a month last year, a true reflection of the crypto winter.
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TidalShellReflection
· 06-01 21:21
The court approval is expected to take several months of haggling; creditor meetings and bidding processes won't be finalized that quickly.
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KiteStringQuant
· 06-01 21:17
Keyrock just raised Series B funding last year, now they're making acquisitions. Are they stockpiling assets in the bear market for the next bull run?
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HODLBlacksmith
· 06-01 21:07
Chapter 11 is designed for this kind of acquisition, where the debtor sells off assets at low prices during the protection period. It's an old script.
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