Crypto Lender BlockFi Increases All Stablecoin Rates amidst Regulatory Pushback

2021-9-29 17:54

After making a series of cuts in its interest rates for crypto holdings in 2021, crypto lender, BlockFi has finally made the first increase of this year.

BlockFi, which sets the rates based on market dynamics for lending and borrowing, announced this week that starting October 1st, the company is raising increasing rates for all stablecoins held in BlockFi Interest Accounts (BIA).

The rates are only updated for stablecoins, and for cryptocurrency holdings, it remains unchanged.

Stablecoins supported by BlockFi includes BUSD, DAI, GUSD, PAX, USDC, and USDT held in its interest accounts.

For tier 1, which covers up to 40,000 units of stablecoin, the new APY offered is 8.5%, up from 8%. For above 40k units, a 2% increase in rates is offered, up from the previous APY of 5%.

This increase in rates comes while BlockFi is currently being restricted by local regulators in Texas, Kentucky, New Jersey, Alabama, and Vermont to offer their interest accounts on the grounds that it violates their securities laws.

The regulatory action only affects the creation of new BIAs, and current clients and other products are not affected.

The company is currently in “active dialogue with regulators regarding the BIA” and believes “it is lawful and appropriate for crypto market participants.”

“We welcome discussions with regulators and believe that appropriate regulation of this industry is key to its future success.”

The post Crypto Lender BlockFi Increases All Stablecoin Rates amidst Regulatory Pushback first appeared on BitcoinExchangeGuide.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Доступно / Всего 19.117m EMD / 32m EMD

rates crypto blockfi lender all stablecoin pushback

Источник: bitcoinexchangeguide.com

rates crypto → Результатов: 126


Wallet Recovery Service KeychainX Can Recover Your Bitcoin wallet and Bring Your Funds Back

There have been many cases when those who had bought crypto long ago could not reach it because they have lost the keys to their wallets. Amidst growing crypto rates and news background announcing a prosperous future for those smart who managed to buy coins beforehand, thus, enriching with the growing market, it comes to […] Сообщение Wallet Recovery Service KeychainX Can Recover Your Bitcoin wallet and Bring Your Funds Back появились сначала на Coinstelegram.

2021-9-20 17:55


DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to $48k and Ether to Nearly $3,700

Retail-oriented crypto derivative platforms are deviating from the rest of the market as Bybit, which recently had the highest liquidation like always, is now recording negative funding rates. The post DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to k and Ether to Nearly ,700 first appeared on BitcoinExchangeGuide.

2021-9-16 15:30


Bitcoin Suffers 10% Pull Back On El Salvador’s Debut, Funding Rates Dip

Bitcoin’s price plummeted over 10% on early Tuesday, as El Salvador announced that it would officially accept the major cryptocurrency as the nation’s legal tender.   According to CoinMarketCap, Bitcoin’s slump from Monday accelerated as the crypto failed to hold its $50,000 price level — sliding from $51,000 to $44,700 within a single hour.

2021-9-8 01:13


Фото:

Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn […]

2021-6-1 15:30


BoE Telling Banks to be Ready for Negative Rates Is Another ‘Boost’ for Crypto & DeFi

The Bank of England told British banks this week that they will need at least six months to prepare for a shift to negative interest rates. It was back in October that BOE asked banks to be prepared for sub-zero rates after revealing in September that it was exploring the possibility to lower the rates […] The post BoE Telling Banks to be Ready for Negative Rates Is Another ‘Boost’ for Crypto & DeFi first appeared on BitcoinExchangeGuide.

2021-2-6 20:14


Loans now available on the Crypto.com Exchange

Crypto. com today announced the launch of cryptocurrency-backed loans on the Crypto. com Exchange. Users can now receive an instant loan when using their crypto as collateral. Highlights Deposit accepted cryptocurrency and receive a loan instantly; Repay loans partially or in full at any time without early repayment fees; Interest rates as low as 1% APR, stake […] CryptoNinjas.

2021-1-16 22:00


Crypto derivatives data launched on Amberdata API suite

Amberdata, a cryptocurrency and blockchain data platform, today announced the launch of real-time and historical market data from FTX, Binance, BitMEX, Huobi, and more on its API suite. By unifying blockchain-network, cryptocurrency spot, and derivatives market data (including metrics and reference rates) Amberdata accelerates time to market while reducing the cost and complexity to launch […] CryptoNinjas » Crypto derivatives data launched on Amberdata API suite

2021-1-8 02:38


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bankrupt BlockFi to refund over $100K to California clients

BlockFi filed for Chapter 11 bankruptcy on November 28. Some Califonia users continued to repay their loans between November 11 and November 22 Users were not notified until November 22 that they could stop repaying their Loans “until further notice.