The Rumors Around BlockFi Are Untrue

Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)


Despite acknowledging significant risk, the crypto trading platform guaranteed to the users that it possesses the needed money stock to consider all possible consequences that might follow the current market decline. 

Reaction of the managers

Rumors that most of BlockFi’s possessions were kept on FTX are false, according to BlockFi. Speculation that the majority of cryptocurrency lender BlockFi’s assets were kept in FTX before the exchange shut down was refuted in a legal notice that was sent to its clients on the 14th of November.

The majority of its assets, including those held on the failed platform, liabilities the Alameda owed, and unused funds, were not owned by FTX, according to the most recent information provided by BlockFi. 

The market instability

Despite the information coming to light, BlockFi has guaranteed to the clients that it holds the safety coin fund that is needed to cover up all possible risks and is presently seeking advice from professional and advisers on the best course of action.

Although the cryptocurrency lender claims to be working on collecting all debts to BlockFi, it is anticipated that this procedure will take some time, since FTX is presently going through the insolvency process. 

BlockFi stated that it will provide direct information for credit card products as needed. When it is determined that the current market environment does not permit business as usual, the trading system stated it intends to go on suspending numerous deals and operations. 

Customers have also been advised by BlockFi not to make alluviation into their personal crypto addresses or interest-bearing accounts.

As part of a broader scaling back of the platform’s operations in the wake of the FTX crash, there were several press reports on the 11th of November, that BlockFi had suspended customer backdowns on its trading service.

In a November article of the recent situation overview Twitter post, the business claimed that the unclear status of FTX and its related departments is obstructing routine business operations.

BlockFi’s most recent news arrives just days since the Flory Marquez, the company’s founder and CEO, ensured clients in a tweet that every of BlockFi’s product is fully functional. 


Crypto Comeback Pro is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. (Ad)


Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currencies to display
Invest Only $250 - Simple Way To make $1,372 Per Day With Crypto Learn more