Payments company Curve is in active discussions to acquire crypto lender BlockFi's more than 87,000 credit card customers — whose credit cards have been suspended since Nov. 11.

From a BlockFi employee: "The only reason FTX bailed us out was to get our user funds onto their platform to use in their shell game. They applied immense pressure to get BlockFi funds migrated to FTX custody. Employees were told by executives not to ask questions about the move"

Binance US and Coinbase are among the bidders for the BlockFi credit card program and its associated customers, Blockworks has learned, while smaller fintech competitor Curve is also in the hunt for the approximately 87,500 BlockFi accounts.

California's Department of Financial Protection and Innovation issued a notice to suspend crypto lender BlockFi's license in the state for 30 days pending an investigation into the company's announcement that it had halted client withdrawals following the collapse of the FTX exchange.

Crypto lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX's collapse. The company said in a tweet that the "lack of clarity" around FTX's current situation meant it would pause client withdrawals. It also told clients not to deposit to its wallet or interest accounts.

BlockFi's U.S. clients verified as accredited investors will receive access to BlockFi Yield, a interest-bearing digital asset account by the end of 2022.