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Crypto Platform BlockFi Reveals Withdrawal Freeze Amidst FTX Disaster

The massive disaster involving the crypto exchange FTX led to a crypto market collapse as you probably know by now. Check out the latest results of what happened below.

BlockFi pauses withdrawals

It’s been just revealed that the latest sign of fallout from the collapse of the digital asset exchange FTX, crypto lending platform BlockFi now says it has stopped allowing its customers to withdraw funds.

The company just posted a message to customers on Twitter. They said that there is a “lack of clarity” on the status of FTX, and its trading arm Alameda Research is to blame.

“We are shocked and dismayed by the news regarding FTX and Alameda. We, like the rest of the world, found out about this situation through Twitter.”

They continued and said the following:

“Given the lack of clarity on the status of FTX.com, FTX US, and Alameda, we are not able to operate business as usual.”

The platform continued and explained that their priority has been and will continue to be to protect their clients and their interests.

“Until there is further clarity, we are limiting platform activity, including pausing client withdrawals as allowed under our Terms. We will share more specifics as soon as possible. We request that clients not deposit to BlockFi Wallet or Interest Accounts at this time.”

They continued and said:

“We intend to communicate as frequently as possible going forward but anticipate that this will be less frequent than what our clients and other stakeholders are used to.”

Other than this, it’s been reported that the path toward Bitcoin recovery has been highlighted by an important analyst.

A couple of days ago, we were revealing that a crypto strategist who accurately nailed the 2018 Bitcoin (BTC) bear market low. Now, he is mapping out what’s ahead for the king crypto after it reached fresh 2022 lows.

Pseudonymous analyst Smart Contracter just said that Bitcoin might be near a final low after it printed a new bear market bottom of around $15,700.

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