We’re thrilled to announce that we’ve hired Jonathan Mayers as our new General Counsel. BlockFi brings on Mayers to help us remain at the forefront of regulatory standards in the space as benchmark mandates and crypto regulatory governance continues to develop.
Mayers, bringing decades of experience in legal compliance from traditional financial leaders such as Renaissance Technologies, Deutsche Bank, and Barclay’s, as well as time spent at legal powerhouse Davis Polk & Wardwell, will lead the charge in maintaining a robust legal and compliance framework for the firm. Mayers will simultaneously lead BlockFi in emerging as an active participant in ongoing regulatory conversations as the crypto regulatory landscape continues to evolve.
“Crypto is a financial markets efficiency game changer, making flow of capital easy, cheap, and safe for investors across the globe in both retail and institutional settings,” said Mayers. “However, in order to fully reap these benefits, we need to expertly navigate the ever evolving global legal and regulatory compliance environment. BlockFi has already shown it’s leading the charge in these efforts, and I’m looking forward to bringing my background in traditional financial compliance to help us continue to navigate this emerging regulatory landscape.”
“At BlockFi, we pride ourselves on the variety and depth of talent our team represents from the legacy financial space to the new world of crypto, and nowhere is this more important than in our approach to regulation and compliance,” said Zac Prince, CEO and Founder of BlockFi. “As the space continues to mature, we’ll need a firm regulatory structure more analogous to that of traditional finance to ensure capital can move through the crypto ecosystem safely and ethically. BlockFi continues to champion the importance of compliance and Jonathan brings a trove of experience from some of the most recognized names in finance to help us continue to do so.”
BlockFi’s platform offers clients crypto-based interest accounts providing up to an 8.6% annual percentage yield on Bitcoin, Ether, and stablecoins; crypto-backed loans allowing clients to access liquidity up to 50% of an asset’s value in USD; and zero-fee trading. BlockFi manages more than $1 billion in assets on the platform, with a 0% loss rate across our entire loan portfolio since the company began lending in January 2018, even during the dramatic drop in price and ongoing volatility in crypto earlier this year. The company, which is on track to generate over $50 million this year, recently launched a mobile app and plans to launch a Bitcoin Rewards Credit Card.