Blockfi, a cryptocurrency lending platform, has announced that it is limiting the operations of its platform and pausing customer withdrawals. The company issued a letter where it states that this decision was caused by the “lack of clarity” on the current state of FTX, which had previously announced an investment of $250 million in the platform to bolster its balance sheet.
Blockfi Limits Platform Activity, Pauses Customer Withdrawals
Blockfi, one of the leading cryptocurrency lending platforms, announced on Nov. 10 at 8:16 p.m. (ET) it was limiting the activity on its platform and pausing customer withdrawals as a result of the liquidity crunch that FTX has been experiencing. The company cited the “lack of clarity” of the status of the exchange as the main reason behind this resolution.
In an announcement, the company explained they found out about the FTX situation on Twitter, feeling “shocked and dismayed” by the development of this issue. Furthermore, the company decla
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