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Blockfills CEO Nicholas Hammer exits after $75M losses and client deposit freeze

Crypto lender Blockfills replaced cofounder Nicholas Hammer as CEO after the firm incurred about $75 million in losses and halted client deposits and withdrawals on Feb. 11, a person with direct knowledge said. The company's website now lists Joseph Perry as interim CEO, and a spokesperson said Hammer remained in the role until July 2025, while customer deposits remain suspended. Blockfills asked some clients to withdraw crypto assets before the freeze and has been working with investors and clients to restore liquidity, the Chicago-based firm said in a Feb. 11 press release. The company said clients can still open and close positions in spot and derivatives trading in select cases, and reported handling more than $60 billion in trading volume in 2025, up 28% year-on-year, serving about 2,000 institutional customers backed by investors including Susquehanna Private Equity Investments, CME Ventures and Nexo.
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