Cryptocurrency lender BlockFi filed a Chapter 11 petition in the U.S. Bankruptcy Court for the District of New Jersey on Monday, and the company is being guided by Kirkland & Ellis and Haynes and Boone.

BlockFi is the third consumer-facing crypto lender to file for bankruptcy since July, when industry peers Celsius and Voyager, also both represented by Kirkland, filed for bankruptcy protection following a $670 million loan default by crypto hedge fund Three Arrows Capital and the collapse of stablecoins Luna and Terra.

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