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Looks like efflorescence to me. That's the fancy name for the salt deposits that happen as a result of moisture migration as described earlier.
That's what it looks like to me too. Best bet would have been to treat the outside of the CMU before backfilling. If it's above grade, you can still treat the outside of the CMU if exposed. Personally I'd skip any water based clear repellents for exterior conditions. For interior applications, I'd only consider them in an occupied situation where the solvent smell couldn't be tolerated.
The problem with treating the interior is that "white mold" starts to grow behind the repellent and in the cavities instead of staying outside the wall.
I'm not too fond of the clear stuff myself. The premixed stuff that I posted the pic of is pretty smelly. The powder is not bad at all. That's a real good point F350-6. The moisture issue needs to be addressed first. The only issues we have had are sweating before the inside climate is adjusted. That was only on a concrete ceiling. It was also the porch floor.