CME-backed crypto lender BlockFills halts withdrawals, says it’s working to restore liquidity
Crypto firm BlockFills has suspended client deposits and withdrawals due to recent market conditions, while trading remains partially available.Summary
Crypto trading and lending firm BlockFills has temporarily halted all client deposits and withdrawals, citing recent market and financial conditions that saw the total crypto market cap drop to its lowest level since September 2024. A spokesperson confirmed the suspension, which began last week, was enacted "to further the protection of clients and the firm." Trading is still permitted for opening and closing positions in spot and derivatives markets under certain conditions. BlockFills, which is backed by investors including Susquehanna Private Investment and CME Group’s venture arm, stated management is working with investors and clients to restore liquidity but provided no timeline for resuming normal operations. This action follows a significant crypto market selloff where Bitcoin briefly dipped below $60,000.
(Source：The Block)