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News

Due To FTX Liquidity Crisis, BlockFi Has To Pause Withdrawal Service

November 11, 2022 - Around 2 mins mins to read
In its latest announcement, BlockFi said the company’s withdrawal service had to stop due to issues with FTX and Alameda, leaving the crypto lending company unable to operate as usual.
FTX

On November 11, according to the official Twitter, crypto-lending company BlockFi announced that it would be suspending the withdrawal service, asking customers not to deposit funds into their BlockFi Wallet and Interest Accounts for now.

BlockFi said the company was affected by the unclear status of FTX.com, FTX US and Alameda, which prevented it from operating as it should. The company will prioritize the interests of customers first.

The notice did not mention the service suspension period, making their customers somewhat worried about the possible risk of property loss said all products are working normally, and the company is a commercial entity independent of FTX.

FTX

Earlier this year, following the bankruptcy of Three Arrows Capital, BlockFi agreed to a potential acquisition deal with FTX, providing BlockFi with a $400 million line of credit.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

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CoinCu News

News

Due To FTX Liquidity Crisis, BlockFi Has To Pause Withdrawal Service

In its latest announcement, BlockFi said the company’s withdrawal service had to stop due to issues with FTX and Alameda, leaving the crypto lending company unable to operate as usual.
FTX

On November 11, according to the official Twitter, crypto-lending company BlockFi announced that it would be suspending the withdrawal service, asking customers not to deposit funds into their BlockFi Wallet and Interest Accounts for now.

BlockFi said the company was affected by the unclear status of FTX.com, FTX US and Alameda, which prevented it from operating as it should. The company will prioritize the interests of customers first.

The notice did not mention the service suspension period, making their customers somewhat worried about the possible risk of property loss said all products are working normally, and the company is a commercial entity independent of FTX.

FTX

Earlier this year, following the bankruptcy of Three Arrows Capital, BlockFi agreed to a potential acquisition deal with FTX, providing BlockFi with a $400 million line of credit.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

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