BlockFi to pay $100M in settlement with SEC

[{"selector":"#anim-be2da84e-f058-4b4a-953d-816f6c24d35c","keyframes":{"transform":["translate3d(-163.63634%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":870,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-df176176-eb7f-43d5-8c5f-246e09a38c18","keyframes":[{"transform":"rotateZ(-180deg)"},{"transform":"rotateZ(0deg)"}],"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-5a306261-d33d-434d-991d-3df90f120e86","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8810d4e2-23ab-4004-8e1b-2f2bc9f015f2","keyframes":{"transform":["translate3d(0px, 65.69972%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Feb 14, 2022

[{"selector":"#anim-a82546f5-1204-429d-88a4-48a1c06bcd76","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3c4aee82-af45-44e7-9165-eeae52787af1","keyframes":{"transform":["translate3d(0px, 51.61744%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e24d65b1-18e7-434c-8fa6-dcdf5cdf6129 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-41.673519702471964%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Crypto lender BlockFi has been under investigation since November 2021 over the lending product, which offers yields as high as 9.5%. Image source: Reuters

[{"selector":"#anim-a23ce810-7194-4858-a2a6-7e3ee3b14d3b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7bd3d4e-390d-4f5c-9d16-9ecac5b6aa25","keyframes":{"transform":["translate3d(0px, 64.43389%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9c8d8c49-2bbb-44f2-ac59-42aa9ccdb9f9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(47.83150250415566%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] BlockFi is going to pay the U.S. Securities and Exchange Commission (SEC) $50 million. It will stop opening new accounts as part of a settlement of an ongoing investigation. Image source: blockworks

[{"selector":"#anim-3134aa65-2350-402d-ac25-7d4525c0f99c","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-776cc350-11d6-435c-bdb7-bf1c58fe0186","keyframes":{"transform":["translate3d(0px, 71.07947%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d9a28af-e1a5-4cd1-9b07-0ad862ba112f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(68.52678552330747%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] BlockFi has to pay another $50 million to various state regulators. The BlockFi Interest Accounts have gone through critical observation from securities regulators in New Jersey, Texas, Kentucky, Alabama and Vermont over the offering. Image source: bitcoin.com

[{"selector":"#anim-2070124e-0062-49f6-8213-58de4b691d12","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ae2a0181-3bd1-434d-b728-70a23ac6fcc4","keyframes":{"transform":["translate3d(0px, 65.22504%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc54ca40-0154-4ce8-ac42-b610ea42caf2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-58.89144747568362%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] A BlockFi spokesperson stated that they have been in productive ongoing dialogue with regulators at the federal and state level. They do not comment on market rumors. Image source: BSC

[{"selector":"#anim-3652e381-6b6c-414f-95fb-607680164730 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(63.42558041444427%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-848907d3-e37e-4027-92b8-df20f923f4d1","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f576085-9a4f-462c-a2f7-522bf1980964","keyframes":{"transform":["translate3d(0px, 70.13010%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] They can confirm that clients’ assets are safeguarded on the BlockFi platform and BlockFi Interest Account clients will continue to earn crypto interest as they always have. -A BlockFi spokesperson Image source: BSC

[{"selector":"#anim-260d09c7-7fcb-45cf-91fc-d83a69775c5b","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8c6d328e-93aa-4963-982e-4a0b79b50886","keyframes":{"transform":["translate3d(0px, 47.18706%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f8b0e5c-75e6-4feb-98cb-c5fd859da344 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(7.849124957134375%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-78c4c17d-16fd-4a8b-b3a1-f0f188c021e1","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The SEC is reportedly investigating Voyager Digital, Gemini Trust and fellow crypto lender Celsius Network. Image source: acfcs.org

[{"selector":"#anim-b961b689-9261-481e-8a7e-45021d8d2c12","keyframes":{"transform":["translate3d(284.09095%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2610,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-e859ffdf-d326-453c-9e70-2260ef66a208","keyframes":[{"transform":"rotateZ(180deg)"},{"transform":"rotateZ(0deg)"}],"delay":0,"duration":3000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-37f11d2f-4505-4c42-a924-6626cbb4e57f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] More crypto stories...