Chapter 11 Trustee Appointed for Power Block Coin L.L.C.

Fri, 24 Apr 2026 02:07:11 +0000
Bankruptcy

The United States Bankruptcy Court for the District of Utah issued a Memorandum Decision appointing a Chapter 11 Trustee for Power Block Coin, L.L.C., a cryptocurrency financial services company with claims exceeding $192 million. The Court rejected Debtor's preference for converting the case to Chapter 7, finding that appointment of a Chapter 11 Trustee is in the best interests of creditors. The Official Committee of Unsecured Creditors and Debtor had filed competing motions, and the Court conducted a hearing before taking the matter under advisement. The case has been pending for approximately 21 months, with the crypto exchange having ceased operations.