BlockFi was a crypto lending company that let users earn, borrow, trade and invest in cryptocurrencies . It was founded in 2017 and had over 450,000 users and $15 billion in assets by 2022 . But BlockFi used risky and unclear methods to make money with its customers’ crypto deposits, and faced legal troubles from several states . BlockFi went bankrupt in 2023 after FTX, a crypto exchange it depended on, got hacked and crashed . BlockFi stopped withdrawals and other services, and sold some of its assets to pay off some debts .