On February 11, BlockFills suspended user deposits and withdrawals amid severe fluctuations in the cryptocurrency market. According to BlockBeats, the company is headquartered in Chicago and serves approximately 2000 institutional clients. The platform remains open for some trades, but liquidity is limited.
This move is reminiscent of previous lows in the cryptocurrency market, including the 2022 collapse of FTX and several lending institutions. Recently, Bitcoin fell below $65,000, down about 45% from its October peak, increasing market pressure. The stagnation of U.S. cryptocurrency legislation has also weighed on market sentiment.
