If you thought the wave of institutional crypto collapses was behind us, BlockFills just proved otherwise. On March 15, 2026, the Chicago-based crypto trading and lending firm filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.

The firm listed estimated assets of $50 million to $100 million against liabilities of $100 million to $500 million, a gap that no court-supervised restructuring plan can paper over easily. This is a story about a firm that failed its 2,000-plus institutional clients in the most fundamental way possible.

From $61 Billion in 2025 Volume to Chapter 11 in Delaware

BlockFills operates through its parent entity, Reliz Ltd., a firm that provides liquidity, financing, OTC…