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.

Why did Gemini pause withdrawals after FTX collapse?

Making wealth creation easy, accessible and transparent. The Gemini exchange had to pause withdrawals after the FTX collapse caused a ripple effect on the cryptocurrency space. Investors fear that Genesis, the lending partner of Gemini, could file for bankruptcy next.

What can Gemini do if Genesis suspends withdrawals?

With Genesis suspending withdrawals, there appears to be nothing that Gemini can do now. Genesis cited “extreme market dislocation” and “loss of industry confidence caused by the FTX implosion” as the reasons why they were suspending withdrawals.