A little more than two weeks ago, the once mighty crypto giant FTX - founded by Sam Bankman-Fried to bring everyday people into the opaque world of virtual currencies - filed for bankruptcy.In the days since, the crypto industry, Wall Street, and even federal regulators have been on the outlook for the next domino to fall, wondering if the end of crypto is in sight or if wider financial stability is under threat.Announcing its plans to file for Chapter 11 reorganization in New Jersey, where the company is based, BlockFi noted FTX's own bankruptcy proceedings will lead to delays.BlockFi has close ties to FTX and the scrutiny of regulatorsAlmost every area of the industry has been suffering through a "crypto winter" this year.During the summer, FTX agreed to provide BlockFi with a $400 million revolving credit facility, to use as a backstop, in exchange for the option to buy the company for as much as $240 million."