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 FTX resume withdrawals?

Troubled crypto exchange FTX.com resumed withdrawals on the platform, according to blockchain data, after halting such activities on Tuesday because of “liquidity crunches” cited by its co-founder Sam Bankman-Fried.

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.

Did FTX halt telegram withdrawals in New York?

The withdrawal activities halted around Tuesday morning in New York, according to Telegram messages on FTX.com’s customer supporting group and blockchain data provided by data firm Nansen. At the time of publication, FTX.com appears to have fulfilled millions of dollars worth of withdrawal requests by users.