Another Exchange Bites the Dust, BlockFi halts Crypto Withdrawals

[talkoncrypto Official]

Lets see whose next , if you face any issues while withdrawing funds in your preferred exchange , let know others in this thread

[Rikafip]

Lets see whose next , if you face any issues while withdrawing funds in your preferred exchange , let know others in this thread[/b]

Honestly, whoever still has money on one of these platforms after everything that has happened this year he simply doesn't care and maybe deserves to lose some of his money to learn a lesson. It was obvious what will eventually happen with BlockFi ever since they got $250M loan from FTX back in June in order to remain operational so people had enough time to withdraw their money.

Just hours before that announcement they claimed that platform has no issues whatsoever and that it remains fully operational and we see what happened. So next time when you see similar "encouraging" announcement coming from your exchange, take the money and run.


https://twitter.com/BlockFi/status/1590705864448495616

[talkoncrypto Official]

Seems like most exchanges were facing liquidation issues, they just didn't had the courage to come into market like this ... Probably time has come for the people to trade on p2p escrow exchanges like localbitcoins , coinbaazar and others , as they remain unaffected ...

[examplens]

It was obvious what will eventually happen with BlockFi ever since they got $250M loan from FTX back in June in order to remain operational so people had enough time to withdraw their money.

So, FTX was lending money just a few months ago, and now they are facing bankruptcy? sounds like a very bad joke.

Seems like most exchanges were facing liquidation issues, they just didn't had the courage to come into market like this ... Probably time has come for the people to trade on p2p escrow exchanges like localbitcoins , coinbaazar and others , as they remain unaffected ...

All exchanges base their value/liquidity on the basis of investors' money. They borrow on that basis or even reinvest that money from their investors/customers and of course, it is a problem for liquidity when a large number of investors want to withdraw their money from there.
they should be aware of that and take care of other people's money a little more.