Sources: BlockFi plans to file for bankruptcy within days, after pausing withdrawals; FTX US gave the crypto lender a $400M revolving credit line in July 2022 (Bloomberg)

Nikhilesh De / CoinDesk:
BlockFi pauses withdrawals and asks users not to deposit to its wallet or interest accounts, saying it can’t operate normally amid “lack of clarity” around FTX  —  BlockFi had made a deal with FTX earlier this year.  —  Crypto Lender BlockFi said it could not conduct business …

Decrypt:
BlockFi files for Chapter 11 bankruptcy protection and plans to lay off a large portion of its staff  —  The FTX contagion has just claimed another crypto firm. … The crypto lender is also laying off a large portion of its staff, the source said.  —  BlockFi, which let users earn yield …

Ornella Hernandez / Blockworks:
Web3 game publisher Revolving Games raised over $13.2M from Pantera Capital, Animoca Brands, and others, bringing its seed funding to $25M+  —  Rockstar Games’ co-founder adds to team’s war chest for Web3 game development

Angus Berwick / Reuters:
In a message to staff, FTX CEO Sam Bankman-Fried says withdrawals on FTX.com are “effectively paused” after FTX saw $6B in net withdrawals in 72 hours  —  Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message …

Tomio Geron / Protocol:
BlockFi debuts a digital assets interest product for US accredited investors, after shutting down a yield-paying crypto product the SEC said was illegal  —  BlockFi has introduced a new digital assets interest product for accredited investors, after previously agreeing to shut …

Ryan Browne / CNBC:
In a Twitter Spaces chat, CEO Changpeng Zhao says Binance has seen a “slight increase in withdrawals” but otherwise “it’s still business as usual”  —  – Binance has seen a “slight increase in withdrawals,” said CEO Changpeng Zhao Monday, but he added this was in line …