BlockFi withdrawals remain "paused". A rumor that BlockFi assets are custodied by FTX has been circulating. In a client update on November 15, 2022, BlockFi denied the rumor.

BlockFi withdrawals were paused on November 11, 2022. The announcement of the pause explained that: [“Given the lack of clarity on the status of FTX.com, FTX US and Alameda, we are not able to operate business as usual.”](https://www.cryptoflash.report/articles/block-fi-haltswithdrawals-ftx-contagion-spreads) 

BlockFi also stated “Until there is further clarity, we are limiting platform activity, including pausing client withdrawals as allowed under our Terms.” As of the [client update on November 15, 2022](https://blockfi.com/november-14-2022-blockfi-update), withdrawals were still paused: “At this time, withdrawals from BlockFi continue to be paused. We also continue to ask clients not to submit any deposits to BlockFi Wallet or Interest Accounts.” 

BlockFi directly addressed the rumor that BlockFi assets were custodied by FTX: “The rumors that a majority of BlockFi assets are custodied at FTX are false. That said, we do have significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line with FTX.US.” 

BlockFi also has a credit card product and updated: “Regarding our credit card product, BlockFi relies on partners to deliver the credit card product. BlockFi handles any distribution of rewards. Customers may have received communication that didn’t originate from BlockFi, but from our partners, Evolve Bank and Deserve. We are working with our partners and intend to directly provide further details on our credit card program as and when appropriate.” 

BlockFi did not give any specific dates or plans for moving forward. Our takeaway is that any solution that may come will be a long way off: “We will do our best to communicate through our official channels as often and transparently as possible going forward but expect these explorations may take time. We appreciate your patience during this period.’

BlockFi withdrawals remain "paused". A rumor that BlockFi assets are custodied by FTX has been circulating. In a client update on November 15, 2022, BlockFi denied the rumor.

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