Category: Blockfi

Survey: 14% of Americans Want Crypto Rewards for Using Their Credit Cards

Survey: 14% of Americans Want Crypto Rewards for Using Their Credit Cards

During the last few years, prepaid cards that offer cryptocurrency rewards have grown popular and a number of digital asset payment cards offer these types of rewards. This means instead of accruing frequent flyer miles or points, consumers get rewarded in crypto assets every time they make a purchase with the card. A recent study […]

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Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

In the course of an investigation into Tether published on October 7, Bloomberg’s Zeke Faux unearthed new information as to the assets backing Tether’s USD-pegged stablecoin. With a current supply of $72.6 billion according to The Block’s data, Tether’s backing has long attracted major interest. Controversy over that backing has proved central to developing standards […]

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Breaking: SEC Chief Issues Stern Warning Against Crypto Lending Products

The US Securities and Exchange Commission (SEC) is tightening its regulatory noose around the crypto market. Gary Gensler the current SEC chief in a recent interview to Financial Times issued a stern warning against crypto lenders claiming any platform offering such services cannot avoid regulations. Gensler said investors in the crypto market deserve the same […]

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Kentucky regulator orders Celsius to stop offering crypto accounts

Kentucky regulator orders Celsius to stop offering crypto accounts

Crypto lending company Celsius has been ordered to stop offering interest-bearing accounts in the U.S. state of Kentucky. The state’s securities regulator issued an emergency cease and desist notice on September 24, becoming the fourth state regulator to take action against Celsius in recent days. Regulators in New Jersey and Texas moved against the crypto […]

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New Jersey delays effective date of cease-and-desist order for BlockFi until December

New Jersey delays effective date of cease-and-desist order for BlockFi until December

A New Jersey cease-and-desist for new interest accounts at crypto lender BlockFi will take effect on December 1, per an extension that the firm announced on Wednesday.   The New Jersey Bureau of Securities signed off on this third extension of its cease-and-desist order, according to BlockFi. The securities regulator initially issued its order back in […]

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After BlockFi, New Jersey and Texas set sights on Celsius’ crypto interest accounts

After BlockFi, New Jersey and Texas set sights on Celsius’ crypto interest accounts

On September 17, New Jersey’s securities regulator ordered crypto lending platform Celsius to halt offerings of its interest accounts in the state.  The same day, the Texas State Securities Board filed a notice of a hearing in February to consider a similar move to stop Celsius’ offerings in the state.  Friday’s moves follow broader regulatory […]

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SEC’s handling of Coinbase Lend signals sea change for US crypto lending

SEC’s handling of Coinbase Lend signals sea change for US crypto lending

Crypto lenders may be facing the same fate as ICO issuers. Brain Armstrong, the CEO of leading crypto exchange Coinbase, took to Twitter on Tuesday night to criticize the Securities and Exchange Commission’s handling of Coinbase’s proposed Lend product. Coinbase Lend is, in principle, a high-interest savings account for USDC, the USD-pegged stablecoin administered by […]

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Former CFTC Chair Giancarlo is putting out a book titled ‘CryptoDad’

Former CFTC Chair Giancarlo is putting out a book titled ‘CryptoDad’

J. Christopher Giancarlo, former Chairman of the Commodity Futures Trading Commission, is putting out a book on cryptocurrency and its role in Washington, DC. Announced in a September 8 tweet, the book is called “CryptoDad: The Fight for the Future of Money.” The forthcoming book takes its title from a nickname that the crypto world […]

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Sen. Elizabeth Warren says ‘crypto is the new shadow bank’

Sen. Elizabeth Warren says ‘crypto is the new shadow bank’

U.S. Senator Elizabeth Warren (D-MA), a long-standing critic of cryptocurrency, told the New York Times that, in her view, cryptocurrency is “the new shadow bank.” The Times story focused in large part on BlockFi, the venture-backed crypto lending startup that has drawn the attention of numerous state regulators in the U.S. as part of a […]

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