Crypto lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX’s collapse. The company said in a tweet that the “lack of clarity” around FTX’s current situation meant it would pause client withdrawals. It also told clients not to deposit to its wallet or interest accounts. “We will share more specifics as soon as possible,” the company said. “… [W]e intend to communicate as frequently as possible but anticipate that this will be less frequent than what our clients and other shareholders are used to.” BlockFi’s tweet Thursday came just two days after founder and Chief Operating Officer Flori Marquez tweeted that “all BlockFi products are fully operational,” saying it was an independent entity until at least July of next year. BlockFi and FTX US announced this past July that the companies had agreed to a deal wherein FTX US would provide BlockFi a $400 million credit facility, which would also allow the crypto exchange the right to acquire BlockFi. The price of the acquisition would depend on certain terms.
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