Crypto lender BlockFi has suspended business following the collapse of crypto exchange FTX.
The company announced on Twitter that they have suspended withdrawals and normal business operations due to the lack of clarity around the current status of FTX.
“We are shocked and dismayed by the news regarding FTX and Alameda,” BlockFi said late Thursday on its Twitter account, becoming the latest casualty of the sudden fall of Sam Bankman-Fried’s FTX. Alameda Research is an affiliated trading firm also controlled by Bankman-Fried.
BlockFi, which is currently caught in a financial conundrum, was once worth $3 million.
The company took to Twitter to announce that platform activity will be limited for the time being and withdrawals for clients will be suspended “as is allowed under our terms.”
BlockFi has not announced any exact time frame for service restoration.
However, the crypto lender announced through Twitter that ACH deposits and…
