Why is CoinFLEX cancelling withdrawals?

Physical futures crypto exchange CoinFLEX is pausing withdrawals citing “extreme market conditions” along with uncertainty around a certain counterparty, its CEO Mark Lamb said in a blog post Thursday. Lamb said the counterparty is not Three Arrows Capital or “any lending firm.”

Are FTX withdrawals paused?

"In the last 72 hours, we've had roughly $6b of net withdrawals from FTX," he wrote, adding that withdrawals at FTX's main unit, FTX.com, are "effectively paused," an issue that would be resolved in "the near future."

Why did BlockFi pause client withdrawals?

BlockFi, a crypto lender, paused client withdrawals from its platform on Nov. 10, citing the “lack of clarity” around FTX's current situation; it was two days after the FTX exchange fully halted customer withdrawals on Nov. 8. BlockFi later acknowledged its “significant exposure” to FTX.

Will CoinFLEX reopen withdrawals after RVUSD issuance?

CoinFLEX expects to resume withdrawals June 30, but is still subject to receiving funds pursuant to the rvUSD issuance. When asked of a potential bank run on Bloomberg TV Monday evening, CEO Mark Lamb said he’s unconcerned this scenario would occur as customers can withdraw their funds once the new token fundraise is complete.