Our Rates May Change, But Our Mission Stays the Same

Rate changes are common in the financial industry. What’s uncommon is BlockFi’s commitment to giving clients the knowledge, flexibility, and transparency they need to make the right decisions for their financial future. Although we sometimes have to adjust the APYs for the cryptocurrencies supported on our platform due to market dynamics for lending and borrowing, our mission to bring financial empowerment to clients on a global scale never changes. And that’s not the only thing that makes us unique. When you hold your assets with BlockFi, you’re not just earning yield on your crypto assets, you’re also developing a long-term partnership with a platform that’s focused on giving you opportunities for growth.

When we make adjustments, it’s always with the goal of maintaining great rates for the maximum number of clients. That’s because we believe in building a scalable company with true staying power. That’s why we’ve never held an ICO, nor do we require tokens to maintain a certain interest rate. In other words, we’re in it for the long haul, and that’s one of the many reasons we’ve earned the trust of some of the biggest names in the financial sector.

With more than $450 million in equity funding, including a recent Series D funding round led by Bain Capital Ventures, BlockFi has a rock-solid foundation. We’ve secured support from leading companies in the industry, including Valar Ventures, Morgan Creek Capital, CMT Digital, Castle Island Ventures, Winklevoss Capital, and Three Arrows Capital, to name just a few. They believe in the BlockFi mission, and that says a lot. Be sure to check out our full list of institutional investors.

“BlockFi has solidified itself as a category winner built on superior products, a world-class team, and a brand of trust and reliability for investors and borrowers,” said Stefan Cohen, Partner at Bain Capital Ventures. “We couldn’t be more thrilled to partner with the company to accelerate its growth globally and seize one of the most important opportunities of our time in shaping the future of finance.”

BlockFi remains one of the few retail-focused interest-earning platforms that is also domiciled in the United States, regulated under US law, and that’s also institutionally backed and doesn’t have a utility token. That’s important—we play by the rules, to the benefit of our company and our clients.

In a market famous for its unpredictability, risk management is of paramount importance. When you send crypto to BlockFi, you’re sending it to one of our regulated custodians, like Gemini. From there, we may lend your crypto to one of our vetted institutional counterparties. These clients use the Bitcoin they’re borrowing to execute trading strategies and hedge their positions. Rather than lending to just one institution, we lend to multiple counterparties to minimize our risks. BlockFi keeps a sizable amount of collateral to the side so that clients are able to easily withdraw funds.

Want to learn more about our approach to risk management? Watch this interview with our GM of Institutional Rene van Kesteren and see this article for additional financial disclosures. 

When you hold your assets with a crypto platform, you need to know that your assets and your data are protected by a robust security strategy, and that remains our top priority at BlockFi. We’re continuously evolving our controls and hardening our security posture to meet the realities associated with sophisticated threat actors. Our security program is expanding across multiple layers, with a focus on transparency about security updates, proactive risk management, enlisting our entire workforce in the security process, and increasing our industry involvement to serve as a leader across the crypto space. 

BlockFi’s Chief Security Officer Adam Healy has outlined the future of security at our company, and the major security initiatives we’re using to keep our company and our clients safe.

Our team has grown to more than 1,000 people, and we continue to add to our global roster of highly accomplished staff. We have also focused on building out and formalizing internal structures and processes with several executive level hires, including: 

Want to learn more about who works at BlockFi and what we bring to the table? Check out the bios for our Leadership Team and our LinkedIn page for a full view of our talent pool.

So remember: While the rates for some cryptocurrencies may change, you’re getting much more than a monthly return when you’re a BlockFi client. From our rock-solid industry backing, to our focus on scalable growth, risk management, and security, BlockFi is your reliable partner in the crypto market. That’s something you can count on.

BlockFi Lending LLC NMLS ID#1737520 | BlockFi Trading LLC NMLS ID#1873137