Institution-focused crypto lender and liquidity provider BlockFills is blocking its clients' deposits and withdrawals, a move reminiscent of previous crypto downturns.
The Financial Times first reported the development, which comes after BTC reached as low as $60,000 on Feb. 5, a 52% drop from the asset’s all-time high in October.
"In light of recent market and financial conditions, and to further the protection of clients and the firm, BlockFills took the action last week of temporarily suspending client deposits and withdrawals. Clients have been able to continue trading with BlockFills for the purpose of opening and closing positions in spot and derivatives trading and select other circumstances,” the company said in a statement earlier today.
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