Crypto loan firm BlockFi has announced that it will continue to pause its operations after FTX files for bankruptcy.
The company also responded to rumors about the bankrupt cryptocurrency exchange FTX.
BlockFi Announces Its Relationship With FTX
In the blog post by the company, it was stated that the rumors that most of the assets are located in FTX are false, while it is stated that there has been significant investment in FTX and FTX-related institutional assets.
The company recently announced that it is pausing withdrawals. When discussing the acquisition of FTX last week, Binance emphasized that BlockFI products are “fully functional”.
The company has asked its customers not to deposit funds into their BlockFi wallet and interest accounts.
“There is the scenario that might be suitable for us and we are currently working to determine the best way forward.
BlockFi has the liquidity to explore all the options and we have consulted with expert advisors to assist us in our next steps.”
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