Will BlockFi pause withdrawals after FTX collapse?

BlockFi advertisement in Washington, D.C.'s Union Station (CoinDesk archives) Crypto lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX's collapse. The company said in a tweet that the "lack of clarity" around FTX's current situation meant it would pause client withdrawals.

Was FTX a startup?

In the wake of Bankman-Fried's trial, Kevin O'Leary analyzed the events that led to FTX's devastating collapse, arguing that people often forget that the company was a startup.

What's happening with FTX & Alameda?

“We are shocked and dismayed by the news regarding FTX and Alameda.” BlockFi says that given the lack of clarity on the status of FTX, FTX US, and Alameda, "we are not able to operate business as usual." As a result, platform activity—including withdrawals—will be limited.

Did FTX blame bank hours for slow withdrawals?

Prosecutors took the jury through a series of tweets, beginning on Nov. 7. Posts came from the company blaming bank hours for slow withdrawals, while Bankman-Fried tweeted from his personal account, assuring customers that all was fine. “FTX was not fine and assets were not fine,” Wang testified.