Market Downturn
BlockFills halts withdrawals amid crypto market slump
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Institutional crypto platform BlockFills has temporarily suspended client deposits and withdrawals due to recent market conditions. The Chicago-based firm, which handled $60 billion in trading volume in 2025, allows limited trading to continue. The move echoes restrictions seen during the 2022 crypto winter.
Crypto venture firm Dragonfly Capital has raised $650 million for its fourth fund, even as the cryptocurrency market grapples with declining prices and waning investor interest. The new fund targets early-stage investments in a sector facing reduced deal activity. Co-founder Haseeb Qureshi highlighted the firm's candid approach as a key strength.
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Chicago-based crypto lender Blockfills, backed by Susquehanna, is exploring a sale following losses of about $75 million amid a market downturn. The firm suspended client deposits and withdrawals last week but allowed continued trading for certain positions. It reported over $60 billion in trading volume for 2025.