BlockFi Issues Statement of Events Regarding FTX

Crypto lender BlockFi has issued a statement of events regarding FTX. The article states that in the current environment, the team can no longer operate their business as usual. In light of the fact that FTX and its affiliates are now in bankruptcy, they have decided to suspend most of their platform activities.

It is a rumor that the majority of BlockFi's assets are in the custody of FTX. However, BlockFi does have significant exposure to FTX and related business entities, including debts owed by Alameda, assets held on FTX, and undrawn amounts from their line of credit with FTX.US.

The team has now retained outside expert advisors who are helping to guide BlockFi's next steps.