Crypto Lender BlockFi Cuts Interest Rates Paid to Largest Account Holders
Just weeks after launching the product, BlockFi has cut the interest rate paid to large customers on its crypto deposit account.
China-based RenrenBit has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019.
BlockFi, the cryptocurrency lending service, is expanding into trading with an unusual, zero-fee model.
The growth in crypto lending platforms is giving birth to a new type of valuation metric: interest rates.
Crypto exchange Binance is now offering users up to 15% in annualized interest for lending their crypto assets such as BNB and USDT.
Investors such as Bixin Capital, FBG Capital and Dong Zhao’s DGroup have been lending tens of millions of dollars in crypto since the fall.