Crypto trading and lending firm BlockFills has temporarily suspended client deposits and withdrawals, the company confirmed to The Block, citing “recent market and financial conditions,” as the total crypto market cap last week fell to around $2.2 trillion, its lowest level since September 2024.
A BlockFills spokesperson said the Chicago-based firm halted transfers last week “to further the protection of clients and the firm,” adding that trading remains available under certain conditions.
“Clients have been able to continue trading with BlockFills for the purpose of opening and closing positions in spot and derivatives trading and select other circumstances,” the spokesperson said, adding that management is working with investors and clients to restore liquidity and resume normal operations.
The firm did not provide a timeline for when deposits and withdrawals would resume when asked by The Block.
BlockFills provides liquidity, trading execution, and lending services to institutional and high-net-worth crypto participants, including hedge funds, miners, and asset managers. The firm counts investors, including Susquehanna Private Equity Investments and CME Group’s venture arm, among its backers.
BlockFills said it handled more than $60 billion in trading volume in 2025 and now serves over 2,000 institutional clients across more than 95 countries.
The suspension comes amid a sharp crypto market selloff last week that saw bitcoin briefly plunge below $60,000 as heavy liquidations and deteriorating market sentiment drove traders into a risk-off stance. More than $2.6 billion in leveraged crypto positions were liquidated across markets over a 24-hour period during the selloff, according to market data.
The Block contacted BlockFills seeking additional details on liquidity conditions and whether client assets would remain fully accessible once withdrawals reopen, but the firm declined to comment beyond its prepared statement.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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