February has been a huge month for us with one particularly large announcement: we raised a $30M Series B and were featured across major media channels. We’re thrilled at the opportunity to reach more people with our products.
We’re making updates to our BTC and ETH rates, which will go into effect March 1, 2020. You will likely be affected by this change, so we’ve taken a moment to explain the changes that will be occurring below.
As a reminder, we recently added support for the stablecoin USDC. Like GUSD, you will earn interest at the industry-leading rate of 8.6% APY on your USDC, and trade with no fees. Learn more about stablecoins and their benefits here.
Please note, BlockFi Interest Account (BIA) interest payments will be going out on the first business day of this coming month (March 2, 2020).
$30M Series B Led by Valar Ventures
We’ve experienced exponential growth as a platform and we’re gearing up for an exciting 2020. Our $30M Series B led by Valar Ventures will help us launch more products faster and continue to build a best-in-class experience.
One of our goals for 2020 is to bring crypto to mainstream audiences. As we scale, we’ll be looking for your continued support in spreading the word about our products through engagement on social media and participation in BlockFi Live.
Starting March 1, 2020, we will be updating our BTC and ETH interest rates. We generate interest rates for you by lending crypto to institutional investors and rates are affected by market conditions. You can learn more about how this works and the factors that drive rates here and here.
- Tier 1 | 4.9% APY | up to 3 BTC
- Tier 2 | 3.2% APY | > 3 BTC
- Tier 1 | 3.6% APY | up to 250 ETH
- Tier 2 | 2.0% APY | > 250 ETH
We’ve been hard at work producing educational content for our video series, BlockFi Live. Check out our most recent BlockFi Live episodes and other interviews here:
- Zac Prince and Anthony “Pomp” Pompliano – Series B Announcement
- Flori Marquez and Brad Kam – Unstoppable Domains BlockFi Live
- Flori Marquez on Cheddar – Series B Announcement
If you ever have any questions, our support team is always happy to help. Call us at +1 (646) 779-9688 or email us at email@example.com.
– The BlockFi Team