BlockFi Says Liquidation Is Best Way to Repay Crypto Customers

BlockFi Inc. is moving forward with a plan to liquidate its cryptocurrency lending platform in the coming months, dimming prospects it will be able to find a buyer to rescue the business from bankruptcy.

BlockFi said late Friday that in light of “recent regulatory developments” and other problems that a liquidation is currently the best option for repaying its customers. The company said it canvassed the market for several months and explored selling the BlockFi platform in whole or in parts, but determined “that there may be a lack of meaningful value to be generated from a sale.”

BlockFi had ...