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Keyrock Acquires Bankrupt Crypto Lending Firm BlockFills for $3.25 Million

On June 2, Belgian digital asset service company Keyrock is acquiring the bankrupt crypto trading and lending firm BlockFills for $3.25 million, pending court approval. Keyrock will take on 'almost all' of BlockFills' assets, some liabilities, partial equity, client lists, as well as proprietary technology and intellectual property. BlockFills filed for Chapter 11 bankruptcy in March, reporting liabilities between $100 million and $500 million, with assets ranging from $50 million to $100 million. This acquisition will enable Keyrock to gain access to BlockFills' network of institutional clients, including hedge funds, asset management firms, market makers, and mining companies. Last year, Keyrock completed a Series C funding round led by SC Ventures, a subsidiary of Standard Chartered Bank, with a valuation of $1.1 billion, and acquired Luxembourg-based fund management company Turing Capital in the fall.

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