BlockFi has frozen customer withdrawals due to FTX collapse

By chovy 4 months ago
I received 3 emails the last week from BlockFi...luckily I only have about $800 worth of btc on their platform. Dear Valued Cardholder, In light of recent developments at BlockFi, we would like to provide a friendly reminder that all terms and conditions of your cardholder agreement still continue to apply. As has been the case thus far, any existing balances or future purchases will need to be paid back per the minimum payment requirements on your card or sooner if you wish to do so. Your repayment activity and account status will continue to be reported to the credit bureaus. We look forward to continuing to serve you as our customer and address any questions you may have about this notification. Please don't hesitate to contact us using the contact information provided on the back of your card. Please review the Cardholder Agreement Terms & Conditions for information about your BlockFi Rewards Visa® Signature Card. The BlockFi Rewards Visa® Signature Card is issued by Evolve Bank and Serviced by Deserve, Inc., both of which are separate business entities from BlockFi. ------------ Dear BlockFi Clients, As always, we want to provide important updates to you about our business as transparently, empathetically, and quickly as possible. We are in the heartbreaking position of sharing the following news with you: 1. We are shocked and dismayed by the news regarding FTX and Alameda. We, like the rest of the world, found out about this situation through Twitter. Given the lack of clarity on the status of FTX.com, FTX US and Alameda, we are not able to operate business as usual. 2. Our priority has been and will continue to be to protect our clients and their interests. 3. Until there is further clarity, we are limiting platform activity, including pausing client withdrawals as allowed under our Terms. We will share more specifics as soon as possible. We request that clients not deposit to BlockFi Wallet or Interest Accounts at this time. 4. We intend to communicate as frequently as possible going forward but anticipate that this will be less frequent than what our clients and other stakeholders are used to. For further questions, please feel free to contact our Client Success team. The BlockFi Team ------------ Dear Valued Cardholder, In light of recent developments at BlockFi, which are beyond our control, we are writing to notify you that purchasing privileges on your BlockFi Rewards Visa® Signature Card are suspended until further notice. As a result, you will not be able to make purchases using your card. However, you will be able to view your transactions activity, download statements and make payments on any outstanding balance. Please don't hesitate to call 1-(833)-426-0304 or email BlockFicard@deserve.com or refer to the contact information provided on the back of your card with any questions. Your BlockFi Rewards Visa® Signature Card is issued by Evolve Bank & Trust. Please review the Cardholder Agreement Terms & Conditions for more information. Sincerely, Evolve Bank & Trust