BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi’s platform manages more than $12 billion in assets. The company, headquartered in New Jersey with a presence around the globe, continues to expand in the United States and internationally.
We recently announced the completion of its Series D fundraising round, which was led by new investors including Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global. The $350 million round follows three prior rounds totaling $100M within the last two years and includes participation from Susquehanna Government Products, LLLP, Bracket Capital, Paradigm, Valar Ventures, Morgan Creek Digital, Akuna Capital, PJC, Hudson River Trading, ParaFi Capital, Jump Capital, Pacific Century Group, Gaingels, Third Prime, Kenetic, CMS Holdings, Breyer Capital, The Venture Collective, and Castle Island Ventures.
Our latest round values us at $3B.
BlockFi is registered with the U.S. Department of Treasury Financial Crimes Enforcement Network (“FinCEN”) as a money services business (“MSB”).
Have a question about Blockfi?
Compliance & Security
BlockFi maintains a storage and security system whereby holding a sufficient amount of reserves on hand for withdrawal requests, storing some client’s funds with trusted industry-leading crypto custodians such as Gemini, BitGo, and Coinbase, and lending other funds to institutions to generate yield for retail investors. BlockFi also purchases SEC- and CFTC-regulated futures products to manage risk and maintain a steady stream of liquidity to satisfy withdrawals. Any credit risks for involved institutions are mitigated by credit due diligence and/or collateral such as cash, crypto, or other assets.
Individual clients can also strengthen their personal security through enabling 2-Factor Authentication and Allowlisting specified withdrawal addresses.
BlockFi is not FDIC and SIPC-insured. Please help your audience understand the inherent risks when placing their crypto assets into their BIA.
Our custodians (Gemini, BitGo etc.) have insurance to a certain degree, but it is only applicable to assets that aren’t externally loaned.
Our retail yield products are powered through our Institutional Services business.
BlockFi Institutional Services provides customizable lending & borrowing of cryptocurrencies, stablecoins, and US dollars powered by our retail cryptocurrency balance. Whether one is a market maker, an investment fund, or a crypto business, BlockFi can provide bespoke loans of cryptocurrency, stablecoins, or USD.
Everything we do at BlockFi is sized and managed relative to all risk considerations. We take a very robust approach to risk management and have Heads of Risk and Credit Underwriting with deep experience in the space. In no scenario would any one activity, strategy or trade, with Grayscale or otherwise, have an exposure size or volatility level that would put BlockFi client funds at risk.
The vast majority of our loans are overcollateralized. In cases where it makes sense, we can extend credit but only to top tier counterparties. It is not a dissimilar approach to a bank or other non-bank credit providers in traditional markets.
BlockFi prides itself on the variety and depth of talent their team represents, ranging from the legacy financial space to the new world of crypto.
Have you used this staking provider?
Upload a screenshot (optional)
Confirm that you are a current user of this staking provider by uploading a screenshot showing you logged in (User or Wallet Dashboard). Screenshots are submitted securely and viewable only to the Staking Rewards moderation team.
Are you an affiliate?
Do you or your company/organization implement, resell, or consult on behalf of Blockfi or the company that makes it?
Agree to terms
I agree with the statement above