BlockFi Expects to Enable Customer Withdrawals By 2023 Summer
The withdrawals will be reopened upon the completion of necessary upgrades
Bankrupt lending platform BlockFi needs to conduct updates before enabling customer withdrawals of crypto assets held in its wallet accounts that are not subject to potential preference claims
The company said it will add a new product functionality to its platform before enabling withdrawals but has not detailed what these features will include.
According to the new update, withdrawals must be made in batches, while the eligible users will receive an email.
The lender further advised users to set up a third-party wallet for the process.