BlockFills (BFFS) Suspends Deposits and Withdrawals Amid Crypto Volatility

BlockFills (BFFS) has suspended client deposits and withdrawals, effective last week, citing volatile market and financial conditions to protect clients and ensure stability, per a statement to Decrypt. Clients may open and close spot and derivative positions; the firm is working to resolve the issue and restore liquidity, with regular updates expected. The move follows a 28% drop in Bitcoin in the past 30 days to $66,288, and similar declines for Ethereum and XRP. BlockFills serves over 2,000 institutional clients globally and reported more than $61 billion in trading volume in 2024, with a multi-million-dollar equity round led by Susquehanna Private Equity Investments in 2022.