BlockFi Pauses Withdrawals BlockFi, a centralized entity that | CryptoExplorer ✪

BlockFi Pauses Withdrawals
BlockFi, a centralized entity that provides USD loans on crypto collateralization, has announced they’re pausing withdrawals. The company said they are “shocked and dismayed” by the events unfolding at FTX and Alameda. BlockFi is thought to have had exposure with a $400 million line of credit from FTX US. It is currently unclear whether FTX US will keep running, with the exchange announcing that “trading may be halted in a few days.” “Until there is further clarity, we are limiting platform activity, including pausing client withdrawals,” BlockFi said. Read more