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9 Companies That Hoarded Customers’ Money as Crypto Crashed

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With cryptocurrency prices collapsing, a handful of companies found themselves pulling a move pulled from the playbook of a 1920s bank: freezing withdrawals.

Though cryptocurrency prices haveinvestors truly had the rug pulled out from under them in the past two months. With bitcoin prices in particular

to values not seen since 2020, exchanges and lenders were forced to do something few expected. One after another, firms halted orwithdrawals, leaving investors uncertain whether they would ever see their real life money again.offered notes of optimism without tangible promises.

“There are companies that are basically too far gone and it’s not practical to backstop them,” Bankman-Fried said. Here are a handful of the crypto and exchanges and investment firms who’ve already had to reckon with withdrawing freezes.

 

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