FTX: Crypto Contagion has Spread to BlockFi
First FTX, now BlockFi — a major player in the crypto space — is pausing customer withdrawals.
After the issues this past week with the FTX exchange — which has dominated global news headlines, other issues in the Crypto space are being ignored.
BlockFi — with major investors (screenshot below) — is a Crypto exchange and lending platform. Essentially, you can buy/sell Cryptocurrencies, or give them your Cryptocurrency to hold onto — and they give you cash in exchange.
Here’s a look at the email BlockFi sent to account holders:
This is like if you tried to withdraw money from your bank and the teller says “no, we can’t give you any money today.”
There is a massive and coordinated attack being deployed against anything Cryptocurrency related at the moment.
Read earlier coverage of this crisis of confidence here:
