Tag: BlockFi

BlockFi confirms unauthorized access to client data hosted on Hubspot

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New Jersey-based crypto financial institution BlockFi confirmed a data breach incident via one of its third-party vendors, Hubspot. BlockFi’s proactive warning about the breach aims to deter the intentions of bad actors in repurposing the user data for fraudulent activities. According to the announcement, the hackers gained access to BlockFi’s client data on Friday, Mar. 18, that were stored on Hubspot, a client relationship management platform: “Hubspot has confirmed that an unauthorized third-party gained access to certain BlockFi client data housed on their platform.” As a third-party vendor for BlockFi,…

Bull Trap or Bull Market? Bitcoin (BTC) and Riot Blockchain (RIOT) Price Analysis

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Happy to be regulated? Fallout from BlockFi settlement is a matter of speculation

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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 settlement Founded 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 Account product, with half a million…

BlockFi settles with the SEC, Russia’s CBDC trials begin and Cointelegraph releases its 2022 top-100 list: Hodler’s Digest, Feb. 13-19

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week $1T opportunity: JPMorgan becomes first major bank in the metaverse United States banking giant JPMorgan Chase has taken a dive into what it considers a significant up and coming arena of opportunity: the metaverse. The bank has recently opened a digital lounge called Onyx in…

“ $100M fine for BlockFi, Canada banking freeze highlights the importance of Decentralized Finance”

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Welcome to the second installment of our interview series with the ADALend CEO Kaspars Koskins. Recent events in the US and Canada have illustrated that Decentralized Finance is more important than ever before. ADALend is at the vanguard of this revolution in the lending industry by using blockchain technology to disintermediate the traditional middlemen – providing unprecedented access to loans for those ignored by the traditional banking system and providing high yields for investors in a persistent low-interest-rate environment. Moreover, as we have seen dramatic overreach from the SEC in…

Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lending platform Blockfi in a first-of-its-kind action. The crypto lender has agreed to pay $100 million to settle the charges and pursue necessary registrations. SEC Charges Crypto Lending Platform Blockfi The U.S. Securities and Exchange Commission (SEC) announced Monday that crypto lending platform Blockfi has agreed to pay $100 million in penalties. The SEC explained that “In this first-of-its-kind action,” it “charged Blockfi Lending LLC with failing to register the offers and sales of its retail crypto lending product, Blockfi…

SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

On Feb. 14, the Securities and Exchange Commission, or SEC, announced actions against crypto lending company BlockFi over its failure to register high-yield interest accounts that the agency deems to be securities. New Jersey-based BlockFi will pay $50 million in settlement to the SEC and another $50 million to 32 U.S. states that brought similar charges. This marks some of the heaviest penalties ever imposed by a U.S. federal regulator on a cryptocurrency service provider. The firm also agreed to stop onboarding new customers to the unregistered service, BlockFi Interest…

BlockFi Will Pay $100M, Halt High-Yield Offering

BlockFi will also pay another $50 million to various state regulators, according to the report. The BlockFi Interest Accounts have faced scrutiny from securities regulators in New Jersey, Texas, Kentucky, Alabama and Vermont over the offering. Several of these states planned or issued cease-and-desist orders as part of their investigations throughout 2021. Source

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