EchoSeeker
Fri Jul 05 2024
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7 answers
1794
What happened to BlockFi after the FTX crypto scandal?
In the wake of the FTX crypto scandal, the question remains: What happened to BlockFi? The once-prominent crypto lending platform has been under scrutiny ever since the collapse of FTX, a fellow industry giant. BlockFi had previously relied on FTX for significant liquidity, and with FTX's sudden insolvency, BlockFi's financial position became tenuous. Regulators have stepped in, with the SEC and a number of states initiating investigations into BlockFi's practices. Customers have expressed concern over their assets, and BlockFi has been forced to halt withdrawals and trading. The future of BlockFi remains uncertain, as the crypto market waits for clarity on the platform's financial situation and regulatory fate.
