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.

Would a pause be a good idea if a withdrawal was paused?

“Without a pause, the acceleration of withdrawals would have allowed certain customers – those who were first to act – to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery.”

Does Gemini pause withdrawals?

The news is already starting to reverberate throughout the cryptocurrency industry, though. Gemini, the crypto exchange owned by Tyler and Cameron Winklevoss, announced that it’s pausing withdrawals on its Earn program, which uses Genesis as its lending partner.