BlockFills pauses withdrawals and tightens trading amid crypto rout Institutional crypto brokerage BlockFills has temporarily suspended client deposits and withdrawals and imposed trading restrictions, the Financial Times and Mining Mag report. The Chicago-based platform — partly backed by market-maker Susquehanna Investment Group — handled roughly $60 billion in trading volume last year, the FT says. “In light of recent market and financial conditions, and to further the protection of clients and the firm, BlockFills took the action last week of temporarily suspending client deposits and withdrawals,” a spokesperson told the FT. The firm added that clients “have been able to continue trading with BlockFills for the purpose of opening and closing positions in spot and derivatives trading and select other circumstances.” The move comes as crypto markets plunged last week: Bitcoin fell from around $66,944 to lows near $60,000 before rebounding to roughly $67,000, leaving it about 50% below its record high from last October. That sharp sell-off has raised fresh concerns about liquidity and operational strain at crypto intermediaries. Observers note the episode echoes the 2022 crypto winter, when several platforms suspended withdrawals amid a prolonged bear market and some eventually failed. BlockFills’ actions will be watched closely by institutional clients and counterparties for signs of broader stress in the trading ecosystem. Read more AI-generated news on: undefined/news