### On Nov. 9, 2022, we published an article warning that crypto prices can still go lower, particularly because we still don’t know the extent of the damage that is unfolding from the FTX / Alameda fiasco.  Now we see what might be the first of many other institutions to suffer problems of their own.  

BlockFi announced:

[![announcement](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/f6611d68-a40b-4754-040d-9d8c2f280700/public)](https://twitter.com/blockfi/status/1590875997351866368?s=61&t=V67VdofQzawzXC9iuwI1tA)

The above message is extremely concerning.  First, how does pausing client withdrawals “protect our clients and their interests?” Second, how long will this ‘pause’ be?  Third, they seem to be complaining about a ‘lack of clarity’, and then proceed to provide pretty much no clarity. 

The twitterverse did not take the announcement well.  



[![bfi](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/e6bc6950-103d-446a-a292-982e9758d200/public)](https://twitter.com/coinbureau/status/1590880979987697664?s=61&t=V67VdofQzawzXC9iuwI1tA)

[![tweet](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/e77c3efe-a9ea-45cd-537d-14300a8ce800/public)](https://twitter.com/cryptoomg88/status/1590888853027844096?s=61&t=V67VdofQzawzXC9iuwI1tA)

[![tweetDavis](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/198f3817-ab60-4c76-2598-9e1ce0afc200/public)](https://twitter.com/thecryptolark/status/1590880884806529031?s=61&t=V67VdofQzawzXC9iuwI1tA)

As Lark Davis pointed out, Blockfi was just recently bailed out by FTX.  Blockfi was part of the collateral damage of the 3AC bankruptcy.  Now they look like they might need a bailout again.   
 
This is only the beginning, and note that Blockfi has so far only paused the withdrawals.  We will look out for further announcements and information on Blockfi, and other affected companies, institutions or organizations.  
 
We continue to watch the FTX fallout unfold as this has the potential to affect crypto prices in a massive way.  While we commiserate with the suffering endured by many, we still recognize that lower prices bring an opportunity to accumulate more tokens from unaffected projects at low prices.  In fact, we think that buying more tokens of unaffected projects like BTC, ETH, ADA, MATIC, etc, is helpful to crypto in general at this time.  Each purchase is a vote in favor of the project.  The FTX fiasco makes all of crypto look bad, even the good projects.  We will continue to DCA into the projects we love both as a sign of support but also as an opportunity to grow (and earn) with them.  

 


On Nov. 9, 2022, we published an article warning that crypto prices can still go lower, particularly because we still don’t know the extent of the damage that is unfolding from the FTX / Alameda fiasco.  Now we see what might be the first of many other institutions to suffer problems of their own.  

Fri Nov 11 2022

Block Fi Halts Withdrawals! FTX Contagion Spreading

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Fri Nov 11 2022 Block Fi Halts Withdrawals! FTX Contagion Spreading

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Fri Nov 11 2022

Block Fi Halts Withdrawals! FTX Contagion Spreading