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FTX fallout continues: BlockFi reportedly mulling bankruptcy, SALT pauses withdrawals and deposits

Cryptocurrency Nov 15, 2022 06:00PM ET
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FTX fallout continues: BlockFi reportedly mulling bankruptcy, SALT pauses withdrawals and deposits

In an official update sent to clients on Nov 14, BlockFi admitted to having “significant exposure” to FTX and its affiliated companies, but insisted it had “the necessary liquidity to explore all options”. The news came as somewhat of a surprise since on Nov. 8, BlockFi’s founder and chief operating officer, Flori Marquez, assured users in a Twitter thread that all BlockFi products were “fully operational” because it had a $400 million line of credit from FTX US, which is a separate entity from FTX, the global entity affected by the liquidity crunch.

Related: FTX owned crypto exchange Liquid halts all withdrawals

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FTX fallout continues: BlockFi reportedly mulling bankruptcy, SALT pauses withdrawals and deposits
 

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