Six affiliated Archblock entities — led by Archblock LLC and including TrustToken, Inc., TrueCoin LLC, TrueCoin II LLC, TrueTrading 1 GP LLC, and Archblock (Cayman) — remain in Chapter 11 before Judge Craig T. Goldblatt in Delaware nearly five months after their jointly administered voluntary petitionsDkt. 1, with no plan on file and plan-exclusivity periods just extended to September 4, 2026 for plan filing and November 3, 2026 for solicitation under a Section 1121(d) extension orderDkt. 276. The most consequential pending dispute is creditor Techteryx Ltd.'s motion for appointment of a Chapter 11 trustee under 11 U.S.C. § 1104, set for hearing on July 27, 2026, with objections due July 15, 2026 (Notice of HearingDkt. 281).
The Debtors are the remnants of the San Francisco fintech formerly known as TrustToken, which launched the TrueUSD stablecoin in 2018, sold that business to Techteryx in December 2020 for roughly $28 million, and then operated the TrueFi uncollateralized lending protocol before transferring it to a DAO. The first-day declaration of General Counsel Michael BlandDkt. 6 traces the filing to a convergence of liquidity shocks, including impairment tied to the Aria Fund, a $1.3 million IRS liability arising from a 2021 processing error, an active fraud and conversion suit brought by the Celsius estate in the Northern District of California, and unresolved disputes with Techteryx over TrueUSD reserve representations. Estimated liabilities at the lead debtor range between $100 million and $500 million against $1–10 million in assets.
The capital structure is thin: the only prepetition funded debt disclosed is a $195,100 secured non-recourse loan from JTSA Global LLC collateralized by TRU tokens (Declaration of Michael BlandDkt. 6), and the claims docket reflects eleven claims totaling roughly $10.6 million, anchored by an $8.5 million unsecured Alameda Research claim. The exclusivity extensionDkt. 275 went uncontested, with the Official Committee of Unsecured Creditors confirming no objection, while the Debtors' motion to fix a claims bar date was adjourned and the June 29 omnibus hearing was cancelled once the agenda cleared (Hearing Cancelled NoticeDkt. 277).
The case's near-term trajectory turns on the trustee fight. If Techteryx's motion succeeds, operating control shifts to a court-appointed fiduciary; if it fails, the Debtors retain the runway carved out by the exclusivity extension to negotiate a plan against the backdrop of the Celsius litigation and unliquidated crypto-counterparty claims.
