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Crypto lender BlockFi has had a highly tumultuous 12 months. After getting caught up in the Terra fiasco, which resulted in one of the most prolific asset death spirals of all time, the company managed to avoid bankruptcy after receiving a $400 million lifeline in July 2022. The problem? Its
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Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed. Unredacted
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Payments company Curve is in active discussions to acquire crypto lender BlockFi's more than 87,000 credit card customers — whose credit cards have been suspended since Nov. 11. A Curve spokesperson told Cointelegraph that “outreach and negotiations” started on Nov. 12 and are still in the process with Banking as a
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"BlockFi’s announcement, made on November 10, 2022, from its Twitter account @BlockFi, acknowledged that it cannot 'operate business as usual' given the 'lack of clarity on the status of FTX.com, FTX US and Alameda.' The DFPI is investigating BlockFi’s compliance with the laws within the Commissioner’s jurisdiction, including the California
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Another reason the Thiel model simply makes no sense for retail finance is that it is structurally impossible to build the kind of “moat” that can, at the very least, keep a crappy business like Uber limping along. A huge element of finance, certainly for retail depositors but also more
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It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame
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BlockFi has maintained that its product is not a security. But securities regulators appear to disagree. Earlier this year, a bevy of state-level agencies opened investigations into BlockFi, which would make the SEC only the latest force to give a look. Source
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Crypto lender BlockFi has launched its bitcoin trust with an annual fee that falls 0.25% below what industry-leader Grayscale Bitcoin Trust (GBTC) charges investors. With a 1.75% management fee, the fund started taking subscriptions last Friday and the fund has nearly $30 million in assets under management, according to its website.
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New research shows certain wallets are vulnerable to a quasi double-spending attack, a federal appeals court effectively said blockchain data is not protected under the Fourth Amendment and more. Here’s the story: You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re
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