BlockFills, a CME-backed crypto lending platform, has suspended withdrawals and stated that it is working to restore liquidity.

PANews reported on February 12th that, according to The Block, cryptocurrency trading and lending company BlockFills has suspended customer withdrawals and deposits, stating that it is working with investors and customers to restore liquidity. The company confirmed that the suspension began last week to "further protect customers and the company," and that trading functionality will remain available under certain conditions. The management team has not released a specific timeline for resuming withdrawals, nor has it commented further on whether customer assets are completely safe or whether full repayment will be possible once withdrawals resume.

BlockFills provides liquidity, trade execution, and lending services to institutions and high-net-worth clients, including hedge funds, mining companies, and asset management firms. Investors include CME Group's venture capital arm and Susquehanna Private Equity Investments.