Cryptonews It remains to be seen how BlockFi will be affected by FTX's bankruptcy filing 👀
Troubled crypto lender BlockFi, which escaped bankruptcy this summer after a $400 million loan from Sam Bankman-Fried's now-insolvent FTX exchange, has once again halted withdrawals.
"We are not able to operate business as usual… Until there is further clarity, we are limiting platform activity, including pausing client withdrawals." Bankman-Fried told NPR in a June interview that he felt "a responsibility to seriously consider stepping in, even if it is at a loss to ourselves," for the good of the crypto ecosystem at a time when competing crypto exchanges Coinbase, Crypto.com and Gemini were announcing layoffs. He also presented himself as a new face of the industry while embarking on a $100 million Washington, D.C., lobbying campaign.
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