Summary: BlockFi has paused all business operations, said the crypto lender in a letter to customers. Claiming it to be the “most prudent” move with FTX’s ongoing bankruptcy proceedings, the crypto lender has halted all platform activities and asked cutsomers not to make any deposits. BlockFi denied rumors of its assets being held in custody. However, ...

BlockFi has paused all business operations, said the crypto lender in a letter to customers.

Claiming it to be the “most prudent” move with FTX’s ongoing bankruptcy proceedings, the crypto lender has halted all platform activities and asked cutsomers not to make any deposits.

BlockFi denied rumors of its assets being held in custody. However, it did acknowledge exposure to FTX in the form of obligations owed to BlockFi by Alameda, assets on the FTX platform, and an undrawn credit line with FTX.

Author: Katie Lin