Key Highlights
BlockFills hired Berkeley Research Group (BRG) for restructuring advice and appointed BRG’s Mark Renzi as chief transformation officer, the Financial Times reported.
The firm paused client deposits and withdrawals in February, citing “recent market and financial conditions.”
A federal judge issued a temporary restraining order tied to a lawsuit from Dominion Capital alleging mishandling of client funds.
Crypto trading and lending firm BlockFills has brought in Berkeley Research Group (BRG) for restructuring advice and engaged outside counsel after freezing client deposits and withdrawals and facing a client lawsuit, the Financial Times reported, citing people familiar with the situation.
BlockFills paused deposits and withdrawals in February, citing “recent market and financial conditions.” The company said trading services would continue, and reported the freeze as temporary while it worked to stabilize liquidity.
This week, a U.S. federal judge in Manhattan granted a temporary restraining order in a case brought by Dominion Capital. Dominion’s complaint alleges that BlockFills improperly handled customer assets, and the order limits asset movements while the case proceeds.
As part of the restructuring effort, BlockFills appointed BRG managing director Mark Renzi as chief transformation officer. The Financial Times said the company has been telling potential investors it is pursuing new capital, governance changes, and stronger financial controls after identifying financial reporting issues and a balance-sheet deficit.
BlockFills has positioned itself as an institutional platform backed by major names. The firm has raised tens of millions from investors, including CME Ventures and Susquehanna-linked entities, and said it handled over $61 billion in trading volume in 2025 across more than 2,000 institutional clients.
