BlockFi

Cryptocurrency lender BlockFi Inc. BlockFi has halted client withdrawals blaming the uncertainty around FTXs implosion.

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Cryptocurrency lender BlockFi announced on Twitter late Thursday that it is not able to do business as usual and pausing client withdrawals as a result of FTXs implosion.

. Said it was pausing withdrawals and limiting activity on its platform becoming the latest casualty of the sudden collapse of Sam Bankman. The crisis sparked by the collapse of Sam Bankman-Frieds FTX crypto empire ensnared BlockFi a troubled digital-asset lender once worth 3 billion but which has now. However recent events demonstrate that it is not immune.

BlockFi has introduced a new digital assets interest product for accredited investors after previously agreeing to shut down a yield-paying crypto product that. 5 hours agoBlockFi appeared to throw shade at FTX saying We like the rest of the world found out about this situation through Twitter This is surprising considering FTX had recently. ET it was limiting the activity on its platform and pausing customer.

Holds a Class F digital assets business license under the Digital Assets Business Act 2018 as amended and is licensed by the Bermuda Monetary Authority to. The New Jersey-based crypto lender called on clients not to deposit funds to their BlockFi wallets or interest accounts. BlockFi was named the fastest-growing privately-held company in the United States during the month of August.

BlockFis announcement came just hours after Californias financial protection agency became the latest entitybehind Texas New Jersey and the SECto open. November 7 2022. The crypto lender said its shocked and dismayed by the crisis at Sam Bankman.

BlockFi took an 80 million hit from the bad debt of crypto hedge fund Three Arrows Capital which imploded after the TerraUSD stablecoin wipeout in May. BlockFis tweet Thursday came just two days after founder and chief operating officer Flori Marquez tweeted that all BlockFi products are fully operational saying it was an. Blockfi one of the leading cryptocurrency lending platforms announced on Nov.

BlockFis list of coins is sufficient for most beginner-to-intermediate users. 10 at 816 pm. At the same time their lending Visa Signature Card and BlockFi Trust products make the exchange a.

The move adds to concerns that the problems at FTX.

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