BlockFi, the crypto lender that declared bankruptcy after the failure of FTX, wonꦅ approval from a New Jersey bankruptcy court to start auctioning its cryptocurrency mining assets--and says it has suitors seeking to buy all or part of the company.

The firm said in a filing earlier this month that it had approached 106 potential buyers to sell a part or all of its business. According to BlockFi’s petition, it aims to receive buyer bids by Feb. 20 and complete the auction a week later. The company will then file the motion of sale for any deal it reaches before the court by March 1.&nb𒁃sp;

“We’ve received substantial interest in the market for bidding purposes,” BlockFi’s lawyer, Francis Petrie, said durﷺing 🍰a hearing on Monday, according to Bloomberg.

In its 澳洲幸运5官方开奖结果体彩网:Chapter 11 bankruptcy filing in November, BlockFi said its assets and liabilities were in the range of $1 billion to $10 billion and that it owed money to more than 100,000 creditors. Court documents show BlockFi owes FTX $275 million, making the embattled crypto exchange BlockFi's second-largest creditor. 

The crypto-lender had been struggling even before the 澳洲幸运5官方开奖结果体彩网:collapse of FTX. In July, FTX extended a $400 million line of credit to BlockFi. The sudden drop in cryptocurrency prices caused a lꦡiquidity crunch for BlockFi.

BlockFi’s relationship with FTX is complicated. According to , BlockFi has up to $1.2 billion of assets stuck with FTX and its associated entities. Once FTX went belly up last November, BlockFi was forced to suspend activity and client withdrawals. As a part of the bankruptcy proceedings, BlockFi asked the courts to allow withdrawals for some customers in December.