Major crypto firm files for Chapter 11 bankruptcy

It has been a brutal season for the crypto market with the ongoing bearish cycle and shutdowns and layoffs at multiple enterprises. Bit.com, a popular crypto exchange, and DappRadar, a prominent decentralized application (dApp) analytics platform, announced they are shutting down. Then, the OKX crypto exchange and Polygon Labs decided to cut staff as part of global restructuring. Now, it has come to light that a major crypto firm has filed for Chapter 11 bankruptcy. Archblock files for Chapter 11 bankr ...