ME News reports that on June 2 (UTC+8), Belgian digital asset services company Keyrock is acquiring the bankrupt crypto trading and lending firm BlockFills for $3.25 million, subject to court approval. Keyrock will assume “virtually all” of BlockFills’s assets, certain liabilities, partial equity, client lists, and proprietary technology and intellectual property. BlockFills filed for Chapter 11 bankruptcy in March, reporting liabilities between $100 million and $500 million and assets between $50 million and $100 million. This acquisition will enable Keyrock to gain access to BlockFills’s institutional client network, including hedge funds, asset managers, market makers, and mining companies. Keyrock completed its C-round financing last year, led by SC Ventures, a subsidiary of Standard Chartered Bank, at a $1.1 billion valuation, and acquired Luxembourg-based fund management company Turing Capital in the fall of last year. (Source: ChainCatcher)
Keyrock to Acquire BlockFills for $3.25M
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Summary
Keyrock is set to acquire BlockFills for $3.25 million, according to MetaEra, with the deal pending court approval. The Belgian company will assume most of BlockFills’ assets, a portion of its liabilities, its client base, and proprietary technology. BlockFills filed for Chapter 11 bankruptcy in March with liabilities ranging from $100 million to $500 million. This acquisition gives Keyrock access to an institutional client network, including hedge funds and miners. Altcoins to watch may benefit from such consolidation.
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