On March 15, 2026, the Chicago-based cryptocurrency lending and trading platform BlockFills, operated by its parent company Reliz Technology Group, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. The filing reveals a severe liquidity crisis, with the company listing assets of just $50 million to $100 million against liabilities ranging from $100 million to $500 million.
The bankruptcy petition, unanimously approved by the company's board on March 9, follows weeks of financial turmoil. In February, BlockFills had temporarily halted client deposits and withdrawals, citing extreme market volatility. The situation was exacerbated by a lawsuit from Dominion Capital over a $77 million deficit tied to commingled client funds, which included 70.6 Bitcoin now frozen by a court order.
Court documents detail a list of major unsecured creditors, collectively representing claims over $50 million. The largest creditor is 007 Capital LLC, owed $17.1 million, followed by the Richard E. Ward Revocable Trust ($9.4 million), Artha Investment Partners LLC ($6.9 million), SBI VC Trade Co. Ltd. ($6.3 million), Dorado Family Holdings LP ($5.7 million), and Nexo Capital Inc. ($4.7 million). Notably, the Chicago Blackhawks Hockey Team also appears as a creditor with a disputed claim of approximately $1.3 million.
BlockFills served over 2,000 institutional clients, including hedge funds, high-net-worth individuals, and large-scale Bitcoin mining operations, facilitating an estimated $60 billion in trading volume throughout 2025. The company had attracted investment from prominent firms including CME Ventures, K&H Crypto LLC, and Nexo Inc.
The bankruptcy is the latest in a series of major collapses in the crypto sector, following firms like Celsius, Voyager Digital, BlockFi, and Genesis. It occurs against a backdrop of a prolonged market selloff, with the total crypto market capitalization falling to $2.6 trillion from a peak of $4.3 trillion in early October 2025, partly triggered by geopolitical tensions and a massive liquidation event.
