Blockfills Crypto Trading Firm Seeks Buyer After Major $75M Lending Loss, Susquehanna Backing

Blockfills, a prominent cryptocurrency trading and technology firm backed by financial giant Susquehanna International Group (SIG), is reportedly up for sale. This strategic move comes in the wake of a significant $75 million loss incurred by the company's digital asset lending division. The loss has prompted a major strategic review, leading to the decision to seek a new owner for the business. Blockfills, known for providing liquidity and trading technology in the crypto markets, had expanded into lending services. The substantial financial hit underscores the persistent risks within the crypto lending sector, even for well-funded and established players. The involvement of Susquehanna, a major traditional finance firm, highlights the ongoing intersection and challenges between institutional finance and the digital asset space. The sale process is now underway as the company looks to navigate the aftermath of this costly venture.