BlockFi pauses withdrawals amidst FTX collapse
There have been a series of unfortunate events that occurred throughout the week in the crypto town. The downfall of the FTX empire continued to send shock waves across the globe. While users’ funds were still stuck on the platform, several employees claimed to have lost their life savings. Amidst this, another prominent platform, BlockFi abruptly paused withdrawals . Earlier today, the New Jersey-based exchange alerted the community that it would be “limiting platform activity.” In a recent letter that was posted on Twitter, BlockFi noted it was “shocked and dismayed” by the collapse of FTX and Alameda. pic.twitter.com/zNF1uP6evl — BlockFi (@BlockFi) November 11, 2022 As seen in the above tweet, BlockFi would be pausing client withdrawals. In addition to this, the crypto lender urged the community to refrain from depositing into BlockFi wallet or interest accounts during this period. BlockFi and FTX It should be noted that back in J...