Crypto lender BlockFi has halted consumer withdrawals on its platform as a part of a broader restrict to exercise within the wake of FTX’s collapse.
— BlockFi (@BlockFi) November 11, 2022
The corporate mentioned within the Nov. 11 tweet {that a} “lack of readability on the standing of FTX.com, FTX US and Alameda” has prevented it from having the ability to function as regular.
Consequently, it has restricted platform exercise till there may be additional readability on the creating scenario, it mentioned.
The agency has additionally requested that purchasers don’t deposit to BlockFi wallets or Curiosity Accounts at this time limit.
It follows solely days after a Nov 8. Twitter thread during which BlockFi founder and COO Flori Marquez claimed that each one BlockFi merchandise had been totally operational, as they’ve a $400 million line of credit score from FTX US, which is a separate entity from the one affected by a liquidity crunch.
2) @BlockFi is an unbiased enterprise entity. We’ve a $400MM line of credit score from https://t.co/rFQz2hySwu (not https://t.co/oVC3gZQ6lb) and can stay an unbiased entity till no less than July 2023.
— Flori Marquez (@FounderFlori) November 8, 2022
Nonetheless, latest developments from FTX US, during which a banner on the prime of the FTX US web site mentioned “buying and selling could also be halted on FTX US in a couple of days” raises questions in regards to the monetary influence the fallout of FTX has had on its US arm.
This can be a creating story and extra data shall be added because it turns into accessible.
