Crypto lender and liquidity provider BlockFills has halted client deposits and withdrawals amid renewed bitcoin price volatility.
The Chicago-based firm said withdrawals were paused last week as it works to restore platform liquidity.
BlockFills remains in active discussions with crypto hedge funds and asset managers, seeking to stabilize operations during the market downturn.
Digital assets sold off sharply after President Donald Trump named Kevin Warsh as prospective Fed chair, sparking concerns over tighter monetary policy.
Bitcoin has since seesawed, including a 20% drop last week, and was recently trading near $66,500.
The cryptocurrency previously reached an all-time high above $125,000 in October before retreating sharply.
Despite the withdrawal freeze, clients can still trade spot and derivatives products, which the company described as a temporary measure.
BlockFills said it is working “tirelessly” to resolve the issue and will provide regular updates as liquidity conditions improve.
