BlockFithe latest crypto lending platform to go bankrupt has filed a lawsuit FTX FTT/USD founder Sam Bankman Frieds holding company Emerging Fidelity Technologiesseeks his shares Robin Hood HOODallegedly pledged as security in early November.

What happened: This comes as BlockFi filed for Chapter 11 on Monday in a US bankruptcy court.

BlockFi is asking Emergent to forfeit collateral under a pledge agreement signed Nov. 9 that requires Emergent to pay BlockFi a certain amount of money, as reported by coin telegraph.

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SBF’s investment firm Emergent bought $648 million worth of Robinhood stock in May, earning a 7.6% stake in the online brokerage firm.

That U.S. Securities and Exchange Commission (SEC) is one of the biggest creditors by BlockFi. The regulator has a $30 million unsecured claim against the cryptocurrency lender.

BlockFi said in its bankruptcy filing that it had between $1 billion and $10 billion in assets, with liabilities of the same magnitude, and 100,000 creditors.
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