Nicholas Hammer, co-founder and CEO of crypto lender Blockfills, has stepped down from his leadership role. Joseph Perry is now serving as interim CEO.
The leadership change follows approximately $75 million in losses for the firm. Blockfills suspended client deposits and withdrawals earlier this month due to market conditions. The company had reportedly urged some clients to withdraw assets prior to the platform's halt on February 11th. Customer deposits remain suspended.
Blockfills has reportedly been seeking a buyer since the substantial lending losses. The firm stated it is working with investors and clients to resolve liquidity issues. Despite the suspension, clients have been able to trade for opening and closing positions in spot and derivatives.
The firm's withdrawal freeze recalls the 2022 crypto winter, which saw other major firms freeze customer accounts. The broader digital asset market in early 2026 remains cautious, with major tokens trading well below recent highs.
Blockfills reported over $60 billion in trading volume in 2025, serving approximately 2,000 institutional clients. The company is backed by investors including Susquehanna Private Equity Investments and CME Ventures.