Institutional crypto lending platform BlockFills has temporarily suspended customer deposits and withdrawals following a sharp downturn in Bitcoin and the broader digital asset market.
The company confirmed in a Wednesday post on X that the move, which remains in place, was taken to safeguard clients and stabilize liquidity on the platform amid heightened market stress.
In light of recent market and financial conditions, and to further the protection of clients and the firm, BlockFills took the action last week of temporarily suspending client deposits and withdrawals. Clients have been able to continue trading with BlockFills for the purpose of…
— BlockFills (@blockfills) February 11, 2026
The decision comes after Bitcoin dropped 24% in a week, sliding from $78,995 to $60,000 during last week’s sell-off. BlockFills said the halt was implemented “in light of recent market and financial conditions,” signalling the strain caused by rapid price swings across the crypto sector.
Management added that it is actively engaging investors and clients to resolve the issue and restore full liquidity as quickly as possible.
Despite the suspension of deposits and withdrawals, clients can still open and close spot and derivatives positions, along with select other trading activities, according to the firm.
BlockFills primarily serves large institutional players, including hedge funds and asset managers, requiring a minimum of $10 million in crypto holdings. The platform reportedly serves around 2,000 such clients and facilitated more than $60 billion in trading volume in 2025.
Founded in 2017 by CEO Nick Hammer and President Gordon Wallace, BlockFills is backed by Susquehanna Private Equity Investments and CME Group.
Bitcoin’s steep decline triggers market liquidations
The broader market turbulence dates back to October 10, when a social media post by US President Donald Trump about tariffs rattled financial markets, including crypto markets.
The reaction was swift. Nearly $20 billion in leveraged positions were liquidated as Bitcoin began a prolonged slide. The asset continued to weaken in the following months, touching a year-to-date low of $60,008 on February 5.
Although Bitcoin has since recovered to $67,575, it remains down 46.6% from its all-time high of $126,080 recorded on October 6.
The ongoing volatility has raised concerns about liquidity across crypto lending platforms, particularly those serving institutional investors with large, leveraged exposures.
Enjoyed this piece? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
