Archblock Files for Chapter 11 Bankruptcy Amid Crypto Dispute

The blockchain finance firm faces over $100 million in liabilities as it navigates bankruptcy court proceedings.

Published on Feb. 9, 2026

Got story updates? Submit your updates here. ›

Archblock, a San Francisco-based blockchain finance company formerly known as TrustLabs, ZenTrusts and Win The Game, has filed for Chapter 11 bankruptcy protection in Delaware. The company reported over $100 million in liabilities against less than $10 million in assets, marking the latest tremor in the crypto sector still grappling with legal battles and liquidity shocks.

Why it matters

Archblock's bankruptcy filing comes months after cryptocurrency lender Celsius Network sued the company, accusing it of orchestrating a 'deliberate multimillion-dollar fraud' by allegedly wagering customer deposits on high-risk investments. The allegations have added fresh tension to an industry already battered by bankruptcies, enforcement actions and shifting regulatory scrutiny.

The details

In its response, Archblock has forcefully denied Celsius' claims of misconduct, instead pointing to complications involving third parties like Prime Trust LLC, whose parent company sought bankruptcy protection in 2023. Archblock has framed the dispute as a domino effect within a fragile ecosystem rather than a deliberate scheme.

  • Archblock filed for Chapter 11 bankruptcy protection in Delaware on February 9, 2026.
  • Celsius Network sued Archblock in October, alleging the company orchestrated a 'deliberate multimillion-dollar fraud'.
  • Prime Trust LLC's parent company sought bankruptcy protection in 2023.

The players

Archblock

A San Francisco-based blockchain finance company formerly known as TrustLabs, ZenTrusts and Win The Game.

Celsius Network Ltd.

A cryptocurrency lender that sued Archblock, accusing the company of orchestrating a 'deliberate multimillion-dollar fraud'.

Prime Trust LLC

A third-party company whose parent company sought bankruptcy protection in 2023, an event that Archblock says contributed to the current dispute.

U.S. Bankruptcy Judge Craig T. Goldblatt

The judge assigned to oversee Archblock's Chapter 11 bankruptcy proceedings.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.