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.

Did FTX's influx of withdrawal requests 'exceede' 'current liquidity'?

Genesis says an influx of withdrawal requests ‘exceeded’ the brokerage’s ‘current liquidity’ following FTX’s collapse last week. By Emma Roth, a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.

What happened to FTX?

The issues at FTX have complex roots, but reached a head early Tuesday, Nov. 8, whena huge wave of withdrawals drained FTX of liquidity and effectively froze the platform – almost always a sign of serious issues for a centralized exchange.

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.