BlockFi

2022 - 11 - 11

BlockFi halts withdrawals amid FTX turmoil (Axios)

Crypto lender BlockFi announced on Twitter that it would halt withdrawals per its terms and conditions, blaming "lack of clarity" into FTX — which has ...

[gotten into trouble](https://www.axios.com/2022/11/10/inside-sam-bankman-frieds-call-with-investors)itself by making [loans to Alameda](https://www.wsj.com/articles/ftx-tapped-into-customer-accounts-to-fund-risky-bets-setting-up-its-downfall-11668093732). "We are not able to operate business as usual." [from FTX in June](https://www.coindesk.com/business/2022/06/21/blockfi-receives-250m-credit-facility-from-ftx/).

Crypto Lender BlockFi Halts Withdrawals, Citing FTX's Problems (The Wall Street Journal)

Cryptocurrency lender BlockFi Inc. said it was pausing withdrawals and limiting activity on its platform, becoming the latest casualty of the sudden ...

[Kohl's coupon - 30% off sitewide for Rewards members](https://www.wsj.com/coupons/kohls) [Wayfair Coupon for Black Friday: Up to 70% off](https://www.wsj.com/coupons/wayfair) [Get 15% off AE promo code with text alerts](https://www.wsj.com/coupons/american-eagle-outfitters)

Crypto Lender BlockFi Suspends Withdrawals - The Defiant (The Defiant)

BlockFi, a centralized crypto lender which pays users a return on deposits of digital assets, has paused withdrawals on its platform.

[signed an option](https://thedefiant.io/ftx-agrees-to-buy-blockfi) to purchase the lender in July. “BlockFi is financially strong,” he wrote. [tweeted](https://twitter.com/ClarityToast/status/1590883385555066880) that BlockFi was insolvent.

BlockFi hit by crypto contagion (Proactive Investors USA & Canada)

Crypto contagion has spread to another project linked to Sam Bankman-Fried (SBF) today, with BlockFi announcing a pause on customer withdrawals on its ...

Given the lack of clarity on the stature of FTX.com, FTX US and Alameda, we are not able to operate business as usual. FTX extended a US$250mln line of credit to BlockFi in July with the option to buy the company for a variable US$240mln based on performance triggers. In a statement posted on Twitter, the company said: “We are shocked and dismayed by the news regarding FTX and Alameda…

Crypto lender BlockFi pauses withdrawals, limits platform activity ... (Financial News)

The lender requested that clients not make deposits to their BlockFi digital wallets or accounts, and promised further updates.

California Finance Regulator Revokes BlockFi's Lending License (Coindesk)

FTX, which filed for bankruptcy Friday, had given BlockFi a $400 million line of credit.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). FTX CEO Sam Bankman-Fried, who also resigned on Friday, had previously said that FTX had "liquidity" issues but that assets were "fine" prior to filing for bankruptcy. The DFPI is also investigating FTX," DFPI said. The exchange's FTX US unit had extended a $400 million line of credit to BlockFi earlier this year. The lender