Crypto Meltdown Continues, Next Up: BlockFi

Long-time Slashdot reader kid_wonder writes: BlockFi, a crypto exchange, had suspended withdrawals on Friday and now appears to be having serious issues directly related to the FTX meltdown. In an email to customers this morning they said: "The rumors that a majority of BlockFi assets are custodied at FTX are false. That said, we do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX US. While we will continue to work on recovering all obligations owed to BlockFi, we expect that the recovery of the obligations owed to us by FTX will be delayed as FTX works through the bankruptcy process. At this time, withdrawals from BlockFi continue to be paused. We also continue to ask clients not to submit any deposits to BlockFi Wallet or Interest Accounts." Reuters has a list of some firms who have given information about their exposure to FTX.

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