BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits
BlockFi recently announced it would make changes to the interest they pay for bitcoin and ether deposits.
“As of five minutes ago, everyone who needed to post collateral has,” Genesis CEO Michael Moro said Friday afternoon.
Crypto lender BlockFi now supports cash deposits.
Market makers and proprietary traders are taking out more crypto loans after the second-largest price drop in bitcoin created a new, more volatile market.
As traditional markets undergo a level of anxiety not seen since the 2008 recession, the cryptocurrency industry showed few existential signs of distress.
Having Hong Kong-based HashKey as an investor will help BlockFi expand into Singapore later this year, said CEO Zac Prince.