Crypto lending firm BlockFi is the latest to limit customer activity on its platform. Fearing a major liquidation event, the company has halted withdrawals.
On Nov. 11, BlockFi announced that it was “not able to operate business as usual.” It cited a lack of clarity regarding FTX, FTX.US, and Alameda as the reason.
It said until there is clarity, it will be limiting activity, including pausing withdrawals. It also requested that clients do not make deposits, though that would be highly unlikely given the current situation.
BlockFi claimed that its priority was to protect its clients and their interests. But that will not help those that now have assets locked and inaccessible on the platform.
Source: https://beincrypto.com/blockfi-halts-withdrawals-citing-lack-clarity-regarding-ftx/