BlockFi has suspended its customer lending business, and the loan interest rate will be set at 0% starting November 11

On November 23, according to a customer email seen by The Block, crypto lending company BlockFi has suspended customer loans. The email reads, "Currently, customers are unable to deposit new funds to BlockFi. Therefore, we have placed your loan on administrative hold. Any due amounts, including interest and payments due, will be put on hold until further notice. The interest rate on BlockFi loans will be set to 0% starting November 11, adding that margin calls and automatic liquidations at predefined loan value levels are currently suspended. Customers do not have to make payments on loans that have already matured, and loan delinquencies will not be reported to credit bureaus. Loan holders will not pay late fees for any payments."