BlockFi Files Chapter 11 Bankruptcy November 28th, 2022 | Not Your Keys, Not Your Coins

In an unsurprising, yet sad blow to the overall cryptocurrency industry, BlockFi has officially filed for bankruptcy under Chapter 11. BlockFi has over 100,000 creditors and is in the red somewhere between $1b to $10b.

• This is the next logical step in cascading collapses triggered by FTX earlier this month
• There is a strong possibility that other exchanges will collapse
• Money "evaporating" makes it harder for legitimate projects to maintain funding

This is a great reminder to move any and all assets off of cryptocurrency exchanges, even if you think they are too big to fail. Simply store them in a hard wallet or even Metamask. As long as you protect your keys, these are your safe haven.

It's a tough day to be out here in the blockchain streets, but we will make it together. Just remember to stay decentralized.