Susquehanna-backed BlockFills suspends withdrawals amid crypto sell-off

Crypto trading and lending firm BlockFills has temporarily halted client deposits and withdrawals as market volatility intensifies.

A company spokesperson confirmed the suspension took place last week, describing the move as a precautionary step taken “in light of recent market and financial conditions” to protect both clients and the firm. Management is working with investors and customers to restore liquidity to the platform, and has held information sessions to address client questions.

Despite the freeze on deposits and withdrawals, users are still able to open and close spot and derivatives positions. The firm said it continues to accommodate certain special circumstances while it works toward a resolution.

Withdrawal suspensions have historically raised alarm in the crypto industry. Following the collapse of FTX in 2022, lenders such as Genesis and BlockFi paused withdrawals amid severe liquidity crunches.

BlockFills’ move comes during a sharp market downturn. Bitcoin has fallen nearly 28% over the past 30 days to $66,288—down more than 47% from its October all-time high of $126,080. Ethereum and XRP have dropped roughly 39% and 35%, respectively, over the same period.

BlockFills says it serves more than 2,000 institutional clients worldwide and facilitated over $61 billion in trading volume in 2025. The firm raised a multi-million dollar equity round in 2022 backed by Susquehanna Private Equity Investments and other investors.