BlockFi Seeks Permission To Convert Trade Only Assets To Stablecoins In Lates...
Bankrupt digital asset lender BlockFi has filed a court petition requesting permission to convert the Trade Only assets of its users to stablecoins, thus allowing the withdrawal of these tokens. This development marks the company’s latest effort to repay its creditors. Related Reading: SEC Temporarily Waives $30M Fine, Demands BlockFi Pays Investors BlockFi Moves To […]
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Prominent crypto exchange Coinbase has launched a crypto lending service targeted at institutional investors in the United States. According to a Tuesday report by Bloomberg, the largest American exchange seeks to fill the void created by the collapse of crypto lending firms such as BlockFi, Genesis Global, Celsius, etc. Related Reading: BlockFi Seeks Permission To […]
Zac Prince, BlockFi’s CEO, said his company paid out 450 BTC, 5,000 ETH and $6 million in stablecoins last month. Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients. The interest payments were comprised of 450 Bitcoin (BTC), 5,000 Ether (ETH) and $6 million in stablecoins, CEO Zac Prince said. Another record breaking month of interest payments for @BlockFi clients in Feb. Over 35M in interest paid including: >450 #btc >5,000 #eth >6M in stablecoins Thank you and let’s keep going! — Zac Prince....
Despite a significant fine from Iowa’s regulator just two weeks earlier, BlockFi has scored itself a license in the state. Just two weeks after being fined by Iowa’s regulators for offering and selling unregistered securities, crypto lending platform BlockFi announced on June 28 thait has received a Money Services License in the state.The Iowan license will allow the crypto lender to receive money and sell payment instruments in the state. BlockFi on Twitter stated it will begin by allowing Iowan residents to trade stablecoins.We're excited to announce that we’ve received our Money....
Bankrupt crypto lender BlockFi has moved to recover several assets in a bid to settle its customers as part of its ongoing bankruptcy proceedings. And the company is standing firm that its customers should take priority over fellow bankrupt company FTX. BlockFi Responds To FTX’s Claims In a filing dated August 21, BlockFi objected to […]
The cryptocurrency derivatives exchange could potentially buy out the troubled lender for pennies on the dollar. Cryptocurrency exchange FTX is close to purchasing digital asset lender BlockFi's remaining assets for $25 million, according to CNBC.According to sources close to the matter, BlockFi's equity investors were wiped out and are now writing their positions off at a loss. In addition, the FTX deal could take multiple months to close, opening up the possibility that the price tag could shift over that period. In June 2021, BlockFi had a reported valuation of $5 billion.Earlier this....