New Jersey-based BlockFi had earlier paused withdrawals from its platform and acknowledged it had "significant exposure" to FTX, and its associated entities.
The move comes more than a week after FTX filed for U.S. bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive.
In July, FTX had signed a deal with BlockFi to provide the firm with a $400 million revolving credit facility and an option to buy it for up to $240 million.
(Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Shinjini Ganguli)
