Tag: BlockFi

BlockFi Clients Can Now Start Earning Interest On Any Amount of Crypto

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Clients of BlockFi, a cryptocurrency lending company, will now be able to start earning interest on any amount of Bitcoin (BTC), Ether (ETH), and Gemini Dollar (GUSD). No minimum deposit to earn interest On Sept. 13, the New York-based cryptocurrency lending company, BlockFi, announced that, starting today, its BlockFi Interest Account (BIA) clients will not be required to meet a minimum deposit amount in order for them to earn interest on their Bitcoin, Ether, or GUSD balances. Zac Prince, founder and CEO at BlockFi stated that he is excited to…

Cryptocurrency Lender BlockFi Secures New $18.3 Million Funding

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Photo: BlockFi New York-based cryptocurrency lender, BlockFi, has successfully raised $18.3 million in a Series A funding round which was led by Valar Ventures. The funding round also saw contributions from other heavy names in the cryptocurrency sector including Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek Digital and PJC. Valar Ventures is only one of three venture firms founded by Paypal Co-founder Peter Thiel. Thiel is not new in the crypto sector and last year, the Valar boss invested in Block.one and…

BlockFi Raises Over $18 Million USD in Funding Round

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US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi also plans on using the investment to double…

BlockFi Raises Over $18M in a Round Led by PayPal Co-Founders’ VC Firm

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American cryptocurrency lender BlockFi has secured $18.3 million in a funding round led by Valar Ventures. The Series A funding round saw participation from a number of crypto-focused investors, including Winklevoss Capital and Galaxy Digital, according to a press release shared with Cointelegraph on Aug. 6. Other investors included ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC. Valar, founded by PayPal co-founder Peter Thiel, makes its first crypto investment Per the report, Valar, which led the BlockFi’s new funding round, has made its first investment…

Crypto Lending Startup BlockFi Launches Gemini Dollar Accounts

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Cryptocurrency asset management company BlockFi announced that its interest-bearing accounts now support the gemini dollar (GUSD) in a post published on May 29. Per the announcement, GUSD deposits will see a yearly yield of 6.2%, paid in the stablecoin in question. BlockFi notes that it also offers GUSD as a U.S. dollar funding option and as collateral from institutional cryptocurrency borrowers. BlockFi CEO Zac Prince commented: “The implication of adding this functionality is that you could see crypto companies like BlockFi compete with traditional fintech challenger banks by taking advantage…

BlockFi Slashes Ethereum (ETH) Interest Rate, Bumps BTC

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Cryptocurrency lending firm BlockFi has announced an update to their interest rates for Bitcoin and Ethereum, with the latter experiencing a severe cutback. According to the monthly update published on May 21, BlockFi reports that the month has been “fantastic” for the crypto ecosystem, and predicts the bear cycle is likely reaching its end. The company highlights the thousands of fans, traders and entrepreneurs who attended the 2019 Blockchain Week held in New York City as a testament to the industry’s growth. In addition, BlockFi reports that that their interest…

BlockFi Crypto Management Firm Adjusts Interest Rates

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Cryptocurrency asset management company BlockFi announced a change to its interest rates in a monthly update on May 21. Accounts with bitcoin (BTC) balances over 25 BTC will receive a .15% increase in interest rate, and those with ether (ETH) balances between 25 and 75 ETH will decrease from 6.2% to 3.25%. According to BlockFi, the lending environment for bitcoin has flourished while for ether it has floundered. Ether in particular is being offered at a 0.01% borrowing rate on major crypto exchange Poloniex and crypto lending firm Compound, and…

BlockFi Lowers Investment Threshold for Earning Bitcoin Interest

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Bitcoin prices may be dropping, but one cryptocurrency-based lending startup is looking to expand the appeal of digital assets. BlockFi, which is backed by the Winklevoss Twins’ cryptocurrency conglomeration Gemini, has agreed to lower the BTC investment threshold for participating in its interest generating program. Last month, BlockFi announced the creation of the world’s first interest-bearing accounts for Bitcoin and Ethereum. The New York-based firm will be paying out 6.2% in interest on deposits of Bitcoin and Ethereum, all backed by the Winklevoss twins’ Gemini cryptocurrency exchange. However, after extensive…

BlockFi Reduces Minimum Bitcoin Deposit Required to Earn Monthly Interest

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According to an article by Forbes published April 23, 2019, crypto lending startup BlockFi has slashed its minimum bitcoin deposit required to earn monthly interest from one BTC to 0.5 BTC. The startup has also announced that it will expand its business to India. BlockFi Slashes Required Amount of Bitcoin BlockFi, a cryptocurrency startup backed by Winklevoss twins’ Gemini exchange has brought down its minimum bitcoin balance required to earn monthly interest after customers’ demand for a lower threshold. Users of BlockFi can now earn interest in bitcoin for as…

BlockFi Now Has Over $53 Million in Client Crypto Under Management

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BlockFi crypto wealth management and lending company now has over $53 million in client crypto assets under management. BlockFi announced the update in a blog post on April 23. In the announcement, BlockFi also states that it will implement some policy changes starting from May 1, 2019. Specifically, the company says that the minimum deposit to earn interest has been lowered. Bitcoin (BTC) balances of 0.5 BTC and more will begin earning interest on their deposits, while ethereum (ETH) deposits up to 250 ETH will earn 6.2% annual percentage yield…