Several reports say that Blockfills, a Susquehanna-backed crypto trading and lending firm, has temporarily suspended client deposits and withdrawals as bitcoin hovered near $66,500 after tapping an intraday low of $65,719 earlier in the session.
Blockfills Suspends Withdrawals While Bitcoin Tests Lower Levels
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The Chicago-based firm reportedly informed clients last week that it would pause deposits and withdrawals to safeguard assets during heightened market volatility, according to details allegedly outlined in the company’s internal communication. Reports say Blockfills said certain trading functions remain available, though liquidity is restricted and under-margined positions may be closed.
The company serves roughly 2,000 institutional clients and processed about $60 billion in trading volume in 2025, positioning it as a notable intermediary in the institutional digital asset market. The firm indicated that attempted deposits during the suspension would be rejected and returned. The halt comes as broader crypto markets face sustained pressure, with bitcoin trading around $66,500 at the time of writing after briefly falling to $65,719 intraday.
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Blockfills, founded in 2018 and backed by investors including Susquehanna Private Equity Investments and CME Ventures, raised $37 million in a prior Series A round. While the company framed the suspension as a protective step, temporary freezes on withdrawals have historically drawn scrutiny across the sector. “Echoes of 2022—Stuff like this is what led to the FTX collapse,” serial entrepreneur and technology investor Vinny Lingham wrote on X about Blockfills’ withdrawal suspension.
“A reminder that bitcoin has only fell 50%,” the X account Pledditor posted. “How degenerate of an operation they must’ve been running to have blown up already?” For now, the firm has not announced a timeline for restoring full deposit and withdrawal functionality.
FAQ ❓
- Why did Blockfills suspend deposits and withdrawals?
The firm said it paused transfers to safeguard client assets during heightened market volatility. - Is trading still available on Blockfills?
Select trading remains operational, though liquidity is restricted and certain positions may be closed. - How large is Blockfills’ institutional footprint?
The company serves about 2,000 institutional clients and processed roughly $60 billion in trading volume in 2025. - What is bitcoin’s current price context?
Bitcoin was trading near $66,500 after hitting an intraday low of $65,719 earlier in the day.
