Happy to be regulated? Fallout from BlockFi settlement is a matter of specula...
The record-breaking $100-million fine could mark the dawn of a new era for crypto lending platforms. It might seem unlikely that BlockFi founder and CEO Zac Prince would describe a prosecution that resulted in a $100-million fine for his company as “a win not only for BlockFi but for the broader cryptocurrency industry,” but that is indeed what he said. And, he might be right, although it remains to be seen for now. The settlementFounded in 2017, BlockFi is a New Jersey-based crypto financial institution with a team of 850 and one million clients worldwide. Its popular BlockFi Interest....
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In a significant development, US Bankruptcy Judge Michael Kaplan has made a ruling to lift the stay suit, enabling the resumption of trial proceedings in the ongoing legal dispute between cryptocurrency lender BlockFi and failed crypto exchange FTX. According to recent reports, the decision paves the way for BlockFi and FTX to engage in mediation […]
"We intend to communicate as frequently as possible [...] but anticipate that this will be less frequent than what our clients and other stakeholders are used to." Crypto lender BlockFi has halted client withdrawals on its platform as part of a broader limit to activity in the wake of FTX’s collapse.pic.twitter.com/zNF1uP6evl— BlockFi (@BlockFi) November 11, 2022 The company said in the Nov. 11 tweet that a “lack of clarity on the status of FTX.com, FTX US and Alameda” has prevented it from being able to operate as normal.As a result, it has limited platform activity until there is....
BlockFi continues rejecting securities regulators’ allegations that its Interest Accounts are unregistered securities. The state of Alabama has become the second state in the United States to raise concerns over BlockFi, a major cryptocurrency lending platform.The Alabama Securities Commission (ASC) has issued a show-cause order to New Jersey-based company BlockFi, ASC director Joseph Borg officially announced on Wednesday.Already facing a cease and desist order from the New Jersey Bureau of Securities, BlockFi now has 28 days to provide cause why the platform should not be forced to cease....
BlockFi, a cryptocurrency lender that just closed a $400 million loan and possible purchase conditions with cryptocurrency exchange FTX, is providing staff buyouts as a covert means to cut down on manpower. One month after reducing its workforce by 20%, the change was made. BlockFi Offers COBRA According to a BlockFi employee, the company is […]
The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent the company an order that aims to ban new BIA accounts. Blockfi Now Has Problems With Regulators From 5 States The New York City-based cryptocurrency finance company Blockfi was founded in 2017 by co-founders Zac Prince and Lori Marquez. The firm is a cryptocurrency lending firm that offers....