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BlockFi Monthly Update – August 28th, 2019
Published, 28 August, 2019
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We are raising ETH rates
Recently, we have seen increased and consistent demand in the market for ETH. This rise in demand allows us to pay out more to clients.
As a result of these market considerations, we are making the following ETH rate updates. Changes will take effect on September 1, 2019.
- Balances of 25 to 200 ETH will earn 3.3% APY
- Balances over 200 ETH will earn 0.5% APY
For more information on our rates, please see our rates page (rates on this page reflect current rates as of August 28, 2019).
Please note: BlockFi Interest Account Statements will be sent out on 9/3 for the month of August. If you have any questions, please visit our contact us page.
BlockFi Raised 18.3 Million in Series A Funding Round, led by Valar Ventures
BlockFi is pleased to announce that it has raised $18.3 million in Series A funding led by Valar Ventures with participation from Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC. The capital will be used to add new products to BlockFi’s existing platform.
Valar, a New York-based and fintech-focused VC firm, led the funding round. Valar has previously led Series A financings in several prominent fintech companies including Transferwise, N26, Qonto and Petal. Notably, BlockFi is Valar’s first investment that directly touches the cryptocurrency sector. Read the full press release here.
BlockFi and XBTO Complete Second Ever Exchange for Physical (EFP) Futures Transaction Using Bitcoin
BlockFi continues its mission to build a bridge between traditional financial markets and crypto with a recent Exchange for Physical futures transaction. EFP Futures transactions use physical Bitcoin which is different than cash settled futures which don’t touch the Bitcoin network at all. This creates incremental utility value and demand for Bitcoin which is positive for the ecosystem. There are a number of exchanges, like Bakkt, launching physically settled futures platforms soon making this an exciting part of the industry to keep an eye on.
As always, if you have any questions or comments you can reach out to our support team at support@blockfi.com or submit feedback here.
– The BlockFi Team
Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Crypto assets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts. For more information, please see BlockFi’s Terms of Service__.
Last updated on August 5th, 2022
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As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.
BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access
BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.