Cryptocurrency lender BlockFi said on Monday it has significant exposure to Sam Bankman-Fried's crypto exchange FTX, and associated entities, that last week filed for bankruptcy.
chief executive, after the biggest blowup in the crypto industry drew calls for tighter regulation.
"We do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US," BlockFi said. It added that withdrawals from its platform continue to be paused and clients have been asked to not to submit any deposits to BlockFi wallet or interest accounts.in millions to the beleaguered firm.with BlockFi to provide it with a $400 million revolving credit facility with an option to buy it for up to $240 million.
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