I'd say Spondoolies is finished. What a fuck up.
I wouldn't worry too much in advance. If BTCS/Spondoolies goes through a quick bankruptcy it is a perfect opportunity for somebody to pick up their assets for cheap. It all depends on the quality of the legal advice the potential asset stripper is going to buy. The current situation at Spondoolies is very much different from the Hashfast bankruptcy where the bankruptcy lawyers didn't consult the tort lawyers regarding possible tunneling or other fraud.
Hashfast had a lame chip with no valuable intellectual property. If Spondoolies is sitting on a mostly working chip (especially if it passed engineering sampling on a shuttle wafer run) then ordering a set of full-wafer masks would be a perfect turnaround play.