Platforms limiting or halting withdrawals — particularly lending platforms — is reminiscient of the 2022 crypto crash, when falling crypto prices exposed crypto firms that had been engaging in highly risky or sometimes illegal behavior. As crypto prices fell, firms were unable to meet their loan obligations or faced margin calls, and the tightly interconnected web of lending within the crypto ecosystem often meant that one company failure cascaded into multiple more. It remains to be seen whether this is an isolated incident or the beginning of a trend as crypto prices hit revisit price lows not seen in over a year.
BlockFills claims to have more than 2,000 institutional clients globally, and boasted of facilitating more than $61 billion in transactions in 2025. The company's backers include Susquehanna Capital and CME Ventures.