Gate News reports that on March 8, cryptocurrency trading and lending company BlockFills sought restructuring advice from consulting firm BRG. It is reported that after suspending withdrawals, BlockFills appointed BRG’s Mark Renzi as Chief Transformation Officer. The new management of BlockFills aims to complete the restructuring, inject new capital, and implement new governance and financial controls.
Last month, the lending institution temporarily halted customer deposits and withdrawals, citing recent market and financial conditions as the reason, due to a significant decline in the digital asset market. This week, a federal judge issued a temporary restraining order against BlockFills, after one of its clients, Dominion Capital, accused the company of mismanaging customer funds in February.
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