TrustToken Rebrands to Archblock, Files for Chapter 11 Bankruptcy Protection Amid $100 Million in Liabilities and $10 Million in Assets

TrustToken, rebranded as Archblock LLC, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware. The company, which launched the TrueUSD stablecoin and TrueFi uncollateralized lending protocol, reported over $100 million in liabilities against barely $10 million in assets. Archblock's bankruptcy filing mentions six debtor entities and potential creditors, including Alameda Research and Celsius Network.