BlockFi lending service announced the suspension of withdrawals

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BlockFi reported that due tolack of transparency in the situation with FTX, she is forced to suspend the withdrawal of funds. The service also urged customers not to deposit funds into wallets or accounts.

Note that the BlockFi credit service previouslyexperienced problems this year after the collapse of the Terra ecosystem and the bankruptcy of several cryptocurrency firms. It was the FTX exchange that was supposed to lend a helping hand - it was going to buy BlockFi for $680 million and provide additional liquidity. As part of the deal, FTX provided $400 million in credit and a buyout option for $280 million.

“We were shocked and dismayed by the news ofFTX and Alameda. We will communicate with you as often as possible, but most likely this will happen less frequently than our clients and shareholders are accustomed to,” BlockFi management said.

Moreover, just a few days ago the founderand BlockFi operating director Flori Marquez stated that the company is completely independent and the situation around the FTX exchange, the FTX.US platform and the Alameda company will not affect the activities of the credit service in any way.