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BlockFills Suspends Client Functions As Crypto Slumps

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BlockFills Suspends Client Functions As Crypto Slumps

BlockFills, an institutional-focused digital asset trading and lending firm, has temporarily suspended client deposits and withdrawals, citing recent market and financial conditions, according to reporting from the Financial Times.

A notice was sent last week and stated the suspension was intended “to further the protection of our clients and the firm.” It added that any funds deposited during the suspension period would be refused and returned. Clients were told they could continue trading under certain restrictions, including the possibility that positions or loans requiring additional margin could be closed.

BlockFills provides spot and derivatives execution, structured products, and crypto-backed lending to miners, hedge funds, and other professional counterparties. 

The Chicago-based firm has also been active in crypto credit markets, lending against bitcoin collateral and facilitating leveraged trading strategies.

According to its website, BlockFills serves roughly 2,000 institutional clients, with options products available only to investors holding at least $10 million in digital assets.

The company did not specify how long the suspension would last or provide details on the underlying cause beyond citing market volatility. A BlockFills spokesperson said that the firm is “working hand in hand with investors and clients to bring this issue to a swift resolution and to restore liquidity to the platform.”

Is BlockFills sending a warning sign? 

In the digital asset industry, a halt on customer withdrawals is often interpreted as a warning sign, potentially indicating liquidity constraints or asset-liability mismatches. 

Several crypto trading and lending firms, including FTX, BlockFi, Celsius, Genesis Capital, Vauld, and Voyager, imposed similar restrictions during prior market downturns before entering restructuring or bankruptcy proceedings.

BlockFills’ suspension comes as bitcoin and other major cryptocurrencies have experienced significant declines. Bitcoin fell below $65,000 last week, down roughly 25% so far in 2026 and about 45% since an October peak near $120,000. 

Since its founding in 2018, BlockFills has expanded its trading and lending business with backing from Susquehanna and CME Group’s corporate venture arm. 

While the suspension echoes measures taken by other firms during past crypto downturns, there is currently no public evidence that BlockFills is insolvent. The company did not respond to requests for comment.

At the time of writing, Bitcoin is struggling to stay above the $66,000 level. Earlier this week, bitcoin traded above $72,000 but failed to hold that level.

OnePay Disrupts Tax Season with Launch of Free In-App Filing via AI Partnership

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OnePay Disrupts Tax Season with Launch of Free In-App Filing via AI Partnership

OnePay, the US consumer fintech, has launched a new free tax filing feature for its Cash customers, integrating tax services directly into the app where users already manage their finances.

The new capability is powered by a strategic partnership with april, an AI-powered tax engine. The collaboration allows users to file both federal and state taxes at no cost, removing the need for separate, often paid, tax software.

Consolidating financial management

The move is designed to simplify what is often a stressful and expensive financial moment for many Americans. By embedding tax filing into the same ecosystem used for saving and spending, OnePay aims to reduce the “app bouncing” friction often associated with personal finance management.

Harsh Gupta, GM banking & core app at OnePay, commented: “Tax season is one of the biggest financial moments of the year and for too many people, it’s complicated and expensive. People shouldn’t have to pay just to do their taxes, or bounce between apps to manage their money. By offering free, in-app tax filing, we’re making it easier to file with confidence, get refunds quickly, and keep taxes simple and in one place.”

Incentivising deposits

Beyond the convenience of in-app filing, OnePay is offering financial incentives to encourage users to utilise the service. Customers who choose to direct deposit their federal tax refund into their OnePay Cash account can receive the funds up to 5 days early. Furthermore, the fintech is running a sweepstakes where those direct depositors are entered for a chance to have their refund doubled, up to $5,000.

Ben Borodach, CEO and co-founder of april, highlighted the fit between the two companies: “Adding taxes to the OnePay suite of services complements their robust product suite, allowing customers to spend, invest, build credit, and manage their taxes all within one convenient app.”

The filing process leverages april’s technology to reduce manual data entry, allowing users to upload documents or images of previous tax returns. It also includes access to unlimited live support throughout the filing process.

Ondo and Securitize discuss at Consensus Hong Kong

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Ondo and Securitize discuss at Consensus Hong Kong

Hong Kong — Tokenization is gaining traction, but its success depends less on market hype and more on real-world utility, say executives from Ondo Finance and Securitize.

“There’s no shortage of firms, of issuers, of companies that are interested in tokenizing,” said Graham Ferguson, head of ecosystem at Securitize, during a panel discussion at Consensus Hong Kong. “But it’s on us to figure out how to distribute these assets on-chain via exchanges in a way that is compliant, regulatory-friendly globally.”

Ferguson emphasized that despite high interest on the institutional side, distribution and compliance remain the bottlenecks. “The biggest issue that we run into is communicating with exchanges and DeFi protocols about the requirements that are necessary to adhere to our obligations as a regulated entity,” he said.

Securitize has partnered with firms such as BlackRock to tokenize real-world assets, including U.S. Treasury funds. BlackRock’s BUIDL fund, launched in 2024, now holds over $2.2 billion in assets, making it the largest tokenized Treasury fund on the market.

Ondo Finance, which also focuses on tokenized Treasuries and exchange-traded funds (ETFs), has about $2 billion in total value locked (TVL) according to data from rwa.xzy. Min Lin, Ondo’s managing director of global expansion, said tokenized Treasuries today are a fraction of the potential market.

Both speakers stressed that the next phase of tokenization will be driven by what users can actually do with tokenized assets. Ondo recently enabled tokenized stocks and ETFs to be used as margin collateral in DeFi perpetuals — a first, Lin said.

“That brings a lot more capital efficiency in terms of the utility of those tokenized assets,” he added.

Ferguson agreed, arguing that technological advantages like programmable compliance and fast settlement aren’t enough on their own. “Utility is absolutely far and away number one,” he said. “That’s what will drive the next phase.”

EU Parliament Backs Digital Euro to Bolster Payments Sovereignty

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EU Parliament Backs Digital Euro to Bolster Payments Sovereignty

The European Parliament threw its weight behind the European Central Bank’s (ECB) digital euro project in a vote that framed money and payments as a strategic asset in an era of rising geopolitical tensions. 

Lawmakers adopted the annual ECB report by 443 votes in favor, 71 against and 117 abstentions, backing amendments that describe the digital euro as “essential” to strengthening European Union monetary sovereignty, reducing fragmentation in retail payments and bolstering the integrity of the single market. 

The text places growing emphasis on how public money in digital form can curb Europe’s reliance on non‑EU payment providers and private instruments.

Members of the European Parliament (MEPs) also underlined that the ECB must remain independent and free from political pressure, arguing that safeguarding central bank autonomy was key to maintaining price stability and market confidence.

Annual review of the ECB’s policies and recommendations for 2026. Source: European Parliament

During the plenary debate, Johan Van Overtveldt, MEP and former Belgian finance minister, flagged that “the independence of the ECB is not a technical detail.”

He warned that history showed political interference with central banks “invariably leads to inflation, financial instability and even nasty political turmoil.” 

Related: EU council endorses offline and online versions of digital euro

He argued that reaffirming independence is “even more important in the current global context,” likening monetary and financial stability to utilities such as water and electricity whose importance is only truly noticed when they fail. 

Digital euro as public good and geopolitical hedge

The adopted resolution states that, even as the ECB develops a digital euro, cash should retain an important role in the euro area economy, and both physical and digital euros will be legal tender.

The parliamentary backing comes amid a broader push by central bankers and economists to frame the digital euro as a public good and a geopolitical hedge. 

Last month, ECB executive board member Piero Cipollone called the project “public money in digital form” and tied it directly to concerns about the “weaponisation of every conceivable tool.”

He argued that Europe needed a retail payment system “fully under our control” and built on European infrastructure rather than foreign schemes. 

Earlier in January, 70 economists and policy experts urged MEPs to “let the public interest prevail” on the digital euro, warning that without a strong public option, private stablecoins and foreign payment giants could gain even greater influence over Europe’s digital payments, deepening dependencies in times of stress.

The digital euro is still subject to EU co‑legislators’ approval, with the ECB now in a technical readiness phase. 

If legislation is adopted in the course of 2026, a pilot could start in 2027, and the Eurosystem, the monetary authority of the euro area, would be ready for a potential first issuance around 2029.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026