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. Our loan portfolio has had perfect performance with no losses for our clients from lending to date. 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.
Backed by the Best
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.”
Based in the US, Partnered with Regulators
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
A Robust Security Posture
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.
A World-Class Team
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.
Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person's citizenship, residence or otherwise.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions. Learn more at BlockFi.com.
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