The hobbled crypto lender released a transparency report for the quarter, which detailed its financial position amid the turmoil. In addition to $1.8 billion in outstanding loans, BlockFi’s net exposure amounted to $600 million. BlockFi’s Q2 Results As of June 30th this year, the company’s outstanding loans to institutional borrowers were approximately $1.5 billion. On...Read More
Crypto-focused hedge fund Pantera Capital (PC) published a blockchain letter titled “DeFi Worked Great” on Monday, arguing against a report titled “DeFi Has an Existential Problem” by Wall Street Journal. It stated that DeFi protocols have vastly outperformed CeFi platforms during the market crash due to a high degree of transparency and the practice of...Read More
Crypto trading firm Cumberland weighed into the ongoing trend of centralized digital asset firms falling apart amid a deepened liquidity crisis clouding the industry. It suggests that the overall market’s immediate recovery partially hinges upon whether the distressed assets could be transferred from insolvent firms to solvent ones. Crisis Not Over Yet When a prolonged...Read More
The two parties have updated the previous term sheet as FTX will raise its revolving credit facility to $400 million. Additionally, the crypto exchange has the option to acquire BlockFi in the future for up to $240 million. The crypto lender has been among the most struggling companies in the industry lately, following the massive...Read More
Ethereum’s DeFi industry is growing by leaps and bounds, but not all solutions are safe from harm. In the case of BlockFi, there was a recent data theft, although no funds are affected at this time. The data theft in question seemingly dates back to May 14, according to an official post by BlockFi. A...Read More
Venture capital had a busy year in crypto, with several monster deals inked in 2019. Here are the 10 largest VC raises of the year. After a whopping 1,148 deals in 2018 for $4.65 billion, 2019 saw these figures drop significantly, according to Crunchbase, with just under 450 deals concluded for less than half the...Read More
