Digital asset services firm Keyrock has emerged as the successful bidder for bankrupt crypto trading and lending platform BlockFills, offering $3.25 million. The bid has been recognized by the court as a “successful bid,” but the transaction still requires final court approval and regulatory clearance. A hearing on the matter is scheduled for June 16.
BlockFills filed for Chapter 11 bankruptcy protection in March this year, disclosing assets between $50 million and $100 million, with liabilities ranging from $100 million to $500 million. The company provided liquidity services to hedge funds, asset managers, and other institutional clients.
Keyrock stated that the acquisition would allow it to integrate BlockFills’ institutional client network and proprietary technology, thereby strengthening its position in the digital asset services sector.