BlockFi Raises $52.5 Million in Round Lead by Novogratz’s Galaxy Digital
Crypto-lending firm BlockFi raised $52.5 million in a fundraising round led by Mike Novogratz's Galaxy Digital.
BlockFi, the cryptocurrency lending service, is expanding into trading with an unusual, zero-fee model.
Crypto exchange Binance is now offering users up to 15% in annualized interest for lending their crypto assets such as BNB and USDT.
China-based RenrenBit has disclosed it took $600,000 in net income from revenue of $2.3 million in 2019.
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.
Just weeks after launching the product, BlockFi has cut the interest rate paid to large customers on its crypto deposit account.