NC company invested millions in firm now caught up in FTX spiral




  • In Business
  • 2022-11-30 02:25:10Z
  • By WSOC
 

An investment by a Chapel Hill firm just got caught up in the FTX spiral - as BlockFi has filed for bankruptcy.

Crypto loan and borrow platform BlockFi is a portfolio company of Morgan Creek Capital, a Chapel Hill hedge-fund investor run by Mark Yusko. Morgan Creek has funneled upwards of $50 million into the firm, according to Crunchbase.

RELATED: Size, scope of FTX failure gets clearer as users fear worst

Yusko, through a spokesperson, said he would not be commenting to the press.

This week, BlockFi became the latest crypto company impacted by the collapse of FTX, an offshore trading venue, when it filed for Chapter 11 bankruptcy organization.

Read more here.

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