BlockFills Crisis Deepens as CEO Exits Amid $75 Million Losses

BlockFills, a Chicago-based liquidity provider for the cryptocurrency market, has found itself in a precarious financial situation. In recent weeks, the firm suspended client deposits and withdrawals following significant losses tied to its crypto lending operations.

The company's CEO, Nicholas Hammer, stepped down in February 2026, with interim CEO Joseph Perry taking over the reins. BlockFills' troubles began when the value of the cryptocurrency collateral backing its loans plummeted during market declines, resulting in approximately $75 million in losses.