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BlockFi Interest Account Update

  • Thread starter Thread starter C.Grigg
  • Start date Start date

C.Grigg

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If you have a BlockFi Interest Account, make sure you see this update!

Today Zac and Flori shared a regulatory update. As a result of this much-needed regulatory clarity, we wanted to alert you to updates to your account while we go through the securities registration process for BlockFi Yield, our new crypto interest-bearing security.

What will happen with my BlockFi Interest Account?

You will still have your BlockFi Interest Account (BIA)! You will continue to earn crypto interest, which will be deposited monthly in your BIA.

Can I add funds to my BIA?

No. BIA clients based in the United States may not add further assets into their BIAs. You’ll be able to add additional funds into your BlockFi Wallet, which is the default account for buying, selling, and storing your crypto assets.

You are able to move assets into your Wallet to trade, but once moved from BIA to Wallet, they cannot be moved back and they will cease to earn interest.

When can I get BlockFi Yield?

This is dependent upon the registration process with the Securities and Exchange Commission. Once the BlockFi Yield registration statement is filed and declared effective by the SEC, BIAs of U.S. clients will be exchanged for BlockFi Yield, unless clients instruct us otherwise.

For further questions, please feel free to contact our Client Success team.​
 
Staking is becoming popular this is why many platforms like BlockFi are offering to add to buy or sell staking possibility, they have a list of good services to provide to customers.
 
I don't use BlockFi. After what happened to Celsius Network, I wouldn't want to try any digital asset lender
 
Nomad said:
I don't use BlockFi. After what happened to Celsius Network, I wouldn't want to try any digital asset lender
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Which is smart, as I went to use my credit card at the Renaissance Festival a few weeks ago and my card was declined. I later found out that day that they disabled everyone's credit cards because of the FTX issue and the possibility of them going bankrupt.
 
I was using Nexo to earn interest on my assets. However, when the news about Celsius Network being in trouble was out, I immediately withdrew my assets from Nexo.
 
BlockFi is Bankrupt, so does Genesis, Gemini and others, FTX destroyed a great market. BlockFi 's $HOOD shares are still with SBF.
 
Yugocean said:
BlockFi is Bankrupt, so does Genesis, Gemini and others, FTX destroyed a great market. BlockFi 's $HOOD shares are still with SBF.
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I hate that BlockFi went bankrupt because that was my favorite credit card to use.
It's easy to submit payments on the app. Great monthly Bitcoin rewards are available based on how much you spent. High limit of credit.
 
As much I know, BlockFi CEO Prince isn't at fault, but SBF and SEC are to blame, yet BlockFi also suffered due to falling for them.
 
Well, the update you shared isn't clear enough for my perusal but I think choosing Binance to stake your token for interest gathering could better.
 
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