BlockFills, a Chicago-based platform serving institutional investors, has halted withdrawals and restricted trading. The move follows months of price declines in the crypto market, culminating in a sharp drop last week.
Spokespeople said the withdrawal pause was implemented last week to safeguard customers and the firm. Customers were still able to open and close positions in the spot and derivatives markets and could continue some other activities under certain conditions.
BlockFills’ actions come as crypto prices have fallen for months, with last week’s decline accelerating. The company has historically processed substantial trading volume with backing from Susquehanna Investment Group. Last year, BlockFills reported around $60 billion in trading volume.
Leave a Reply