Crypto exchange FTX is set to make the best buyout deal this year when it finalizes terms to acquire BlockFi, a crypto lending services platform that rose to prominence following the 2021 bull run. A ...
Tag: BlockFi
BlockFi Could Be Acquired by FTX.US for Only $15M: Report
Key Takeaways BlockFi may be sold to FTX.US for as little as $15 million, claims a new report. The $240 million figure originally announced by both parties is contingent on BlockFi securing regulatory...
BlockFi shows top growth among U.S. companies, the U.K. posts over 10% inflation and BitGo plans to bring a lawsuit against Galaxy Digital.
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, pr...
Crypto Lender BlockFi Named Fastest-Growing US Firm
Inc. magazine has recognized crypto firms as among the fastest-growing privately-owned companies in the U.S., with BlockFi taking the top slot on its list. This comes as a huge validation for the indu...
Bankrupt Crypto Lender Celsius Could Leave Customers Last In Line To Get Paid
Alex Mashinsky, chief executive officer of Celsius NetworkPhotographer: Dania Maxwell/Bloomberg © 2018 Bloomberg Finance LP What Happened Earlier this month, crypto lender Celsius Network filed for Ch...
$600 Million Crypto Loan Vanished From BlockFi Q2 Collateral Report
BlockFi Q2 2022 Transparency Report According to the company’s ‘Q2 2022 Transparency Report,’ published on Friday, the crypto lending platform BlockFi had ‘loan exposure’ of $600 million by the ...
BlockFi Announces A $1.8 Billion Outstanding Loan In Q2 2022
Centralized crypto lender BlockFi has stated that it has a total of $1.8 billion in outstanding loans in the second quarter of 2022. The company also provided details regarding its liquidity managemen...
BlockFi Total Loan Tops $1.8B With a $600M Net Risk Exposure in Q2
BlockFi, a major crypto lending firm based in New Jersey, officially disclosed a total loan of $1.8 billion and a net unsecured exposure of $600 million by the end of the second quarter of 2022. The b...
BlockFi has $1.8 Billion in outstanding Loans To The Clients –
BlockFi has shared its quarterly transparent financial report The company has almost $1.8 billion of outstanding loans 50% of $1.8 billion was capable of returning because of the clients A report of ...
BlockFi Claims Having $1.8B in Outstanding Loans in Q2
The hobbled crypto lender released a transparency report for the quarter, which detailed its financial position amid the turmoil. In addition to $1.8 billion in outstanding loans, BlockFi’s net exposu...
BlockFi Had $600 Million in Crypto Loans Not Covered by Collateral in Q2
Crypto lending platform BlockFi held “loan exposure” totaling $600 million by the end of June, according to the company’s “Q2 2022 Transparency Report,” released on Friday. The report showed BlockFi h...
BlockFi had $1.8B in outstanding loans in Q2: Report
Centralized crypto lender BlockFi disclosed that as of the end of Q2, it had $1.8 billion in outstanding loans from institutional and retail investors and $600 million in “net exposure.” The disclosur...
Crypto Lender BlockFi Had $1.8B in Open Loans at End of June and $600M of Exposure
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BlockFi Posts Q2 Report, Reveals $1.8B in Outstanding Loans
Crypto lending platform BlockFi provided crucial insight into its loans, credit, and liquidity position in its “Q2 2022 Transparency Report”. Centralized crypto lender BlockFi revealed that it ended Q...
BlockFi has $1.8B in outstanding loans, $600M of which are uncollateralized
Liquidity issues in the crypto market have forced some of the larger companies in the space to post transparency reports addressing the ongoing crisis. BlockFi, a centralized crypto lender, published ...
BlockFi Discloses $600M “Credit Risk” Amid Turmoil
Cryptocurrency lending startup BlockFi has provided further insights regarding its financial position. According to a quarterly update published on Thursday, the platform faced a $600 million credit r...
BlockFi offers employees buyouts to further reduce headcount: Decrypt
Cryptocurrency lender BlockFi is reportedly offering its employees a buyout scheme in order to further whittle down its workforce, only one month after cutting a fifth of staff. Through a “volu...
BlockFi Offering Employee Buyouts Just One Month After Cutting Staff by 20%
Cryptocurrency lender BlockFi, which just weeks ago finalized a $400 million loan and potential acquisition terms with crypto exchange FTX, is offering employees buyouts as a way to quietly reduce hea...
BlockFi Initiates ‘Voluntary Separation Program’ To Further Trim Headcount
BlockFi already laid off 20% of its staff in mid-June CEO Zac Prince recently said the lender shouldn’t be compared to lenders that shut down Less than three weeks after FTX struck a deal to acquire B...
This Week on Crypto Twitter: BlockFi and 3AC Try to Clear the Air, CZ Jumps the Gun
Illustration by Mitchell Preffer for Decrypt As markets began leveling off from a freefall, Crypto Twitter spent a bit more time discussing the latest bailouts. At the beginning of the month, Voyager ...
BlockFi Quietly Reduces Employees, Offer Buyouts To Force Resignations
BlockFi, a cryptocurrency lender that just closed a $400 million loan and possible purchase conditions with cryptocurrency exchange FTX, is providing staff buyouts as a covert means to cut down on man...
BlockFi severs ties with GBTC, its most profitable asset ever
BlockFi has stopped accepting shares of Grayscale Bitcoin Trust (GBTC) as collateral for loans, concluding its relationship with one of the most profitable arbitrages in modern history. GBTC only owns...
BlockFi Winds Down Loans Backed by GBTC Stock, CEO Says
BlockFi “directly holds zero GBTC,” CEO Zac Prince said The lender suffered an $80 million loss from exposure to Three Arrows Capital Cryptocurrency lender BlockFi currently has no positions in the Gr...
BlockFi CEO Says Latest Move With FTX For The Best Possible Outcome
After undergoing an agreement with Sam Bankman-Fried’s FTX to resolve liquidity woes, BlockFi says the recent move was needed anyway. Last month, FTX US offered the company a revolving credit facility...
Zac Prince Confronts Claims Comparing BlockFi to Celsius and Voyager
Crypto-focused hedge fund Pantera Capital (PC) published a blockchain letter titled “DeFi Worked Great” on Monday, arguing against a report titled “DeFi Has an Existential Problem” by Wall Street Jour...
BlockFi Claims To Windup All Its GBTC Position! GBTC Drops By 5%
Since Terra (LUNC) crashed in May 2022, the crypto lenders have been striving to cope with the losses and manage the liquidity issues. Yesterday, July 12, BlockFi, a crypto lender, claimed that Graysc...
BlockFi Stops Accepting GBTC as Collateral
BlockFi, a major crypto lending firm based in New Jersey, has reversed its earlier decision, and now stop accepting shares in the Grayscale Bitcoin Trust (GBTC) as collateral for loans. Early Tuesday,...
BlockFi Will No Longer Accept Grayscale GBTC Shares As Collateral, Unwinds All Positions
Crypto lenders in the market have been severely struggling to handle liquidity challenges. On Tuesday, July 12, crypto lender BlockFi announced that it will no longer be accepting Grayscale’s GBTC sha...
BlockFi will not accept GBTC as collateral anymore: report
Crypto lending firm BlockFi has reportedly decided to stop accepting the Grayscale Bitcoin Investment Trust (GBTC) as collateral. Sources privy to the development told crypto publication The Block tha...
Private Equity Firm Slashes Valuations of BlockFi Investments
A prominent private fund has downgraded the status of its investments in BlockFi, the beleaguered crypto lender. The Private Shares Fund has slashed valuations of BlockFi series E warrants and preferr...
BlockFi confirms it holds 50% of client funds in short-term positions with 10% in collateral
BlockFi appears to be managing damage control as it sent out an email to users Wednesday evening for investors “looking for reassurance in this crypto bear market.” The email confirmed that BlockFi co...