BlockFi Monthly Update – February 27th, 2020

    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.

    Learn more about our Series B in Bloomberg, Forbes, and a live interview with our CEO, Zac Prince, on CNBC.

     

     

    Rates Update

     

    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

    Updated rates:

    BTC

    • Tier 1 | 4.9% APY | up to 3 BTC
    • Tier 2 | 3.2% APY | > 3 BTC

    ETH

    • Tier 1 | 3.6% APY | up to 250 ETH
    • Tier 2 | 2.0% APY | > 250 ETH

     

    Interviews

     

    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:

     

    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 support@blockfi.com.

    – The BlockFi Team

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    All BIA balances are stored in a custodial account with Gemini.
    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. For more information, please see BlockFi’s Terms of Service.
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    Disclaimer: Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are riot subject to FDIC or SIPC protections. Security is our top priority. Please see our Vulnerability Disclosure Form and Bug Bounty Program.
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    Disclaimer: 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. Security is our top priority. Please see our Vulnerability Disclosure Form and Bug Bounty Program.
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