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Overview
BlockFi provides crypto financial services that connect traditional finance with the crypto world. It offers a cryptocurrency trading platform for buying and selling multiple assets (BTC, ETH, LTC, USDC, GUSD) using Gemini as the custodian to secure client assets, and crypto-backed loans that let clients borrow USD using their crypto as collateral—up to 50% of the asset value—with same-day funding. The company earns revenue from trading fees and loan interest. BlockFi also targets a broad client base including individuals, businesses, and institutions, backed by notable investors such as Valar, Galaxy Digital, Susquehanna, and Coinbase. Its goal is to help crypto holders manage, grow, and access liquidity without selling their assets, bridging traditional finance with digital assets. BlockFi differentiates itself through asset-backed lending coupled with a trading platform and wealth-management services, plus a credible custody arrangement via Gemini and strong institutional backing.
About BlockFi
Industries
Fintech
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$1.3B
Headquarters
Jersey City, New Jersey
Founded
2017
Simplify's Take
What believers are saying
- Emerged from Chapter 11 bankruptcy October 2023 with Coinbase partnership enabling asset recovery.
- Managed $15 billion total assets and $10 billion loans before FTX collapse, proving model viability.
- Institutional backing from Galaxy Digital, Coinbase, Susquehanna validates core lending demand.
What critics are saying
- California DFPI permanently revoked lending license for CFL violations, blocking US market operations.
- SEC enforcement exposure remains high; $100M settlement over unregistered securities may trigger additional actions.
- Coinbase partnership transfers all operational capacity to third party, eliminating BlockFi's independent business.
What makes BlockFi unique
- Crypto-backed loans up to 50% LTV without asset liquidation, differentiating from traditional finance.
- Institutional-grade custody via Gemini and Coinbase partnerships ensuring client asset security.
- Bridged traditional finance and cryptocurrency markets through SEC-compliant lending infrastructure.
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Funding
Total Funding
$1.3B
Above
Industry Average
Funded Over
10 Rounds
Tiger GlobalBenefits
Competitive salary because we value your experience and expertise
Unlimited vacation / sick days because everyone deserves time for R&R
Employer contribution towards health coverage (including vision & dental) because your physical health and well-being is important to us
Various fringe benefits such as 401k, Parental Leave, FSA/HSA, and Employee Assistance Programs because health coverage is more than just choosing your yearly plan
Flexible work environment because we are a geographically dispersed team and we believe in balance
Pet insurance because all of your beloved family members should have coverage too
Weekly lunch stipend because there is such a thing as a free lunch!
A close-knit team of enthusiastic, collegial and driven people to work alongside in a highly meritocratic environment because teamwork makes the dreamwork
Company News
BlockFi launched a Bitcoin Rewards Visa Credit Card.
The California Department of Financial Protection and Innovation has permanently revoked BlockFi's lending license following its bankruptcy and regulatory issues.
We do the research, you get the alpha!Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game!Go to Alpha ReportsBankrupt crypto lender BlockFi will begin interim crypto distributions to creditors through Coinbase starting this month, the company wrote on Twitter and in a blog post.“The distributions will be processed in batches in the coming months, and eligible clients will receive a notification to the BlockFi account email on file,” the company wrote on Wednesday. “Please note that non-US Clients are unable to receive funds at this time due to the regulatory requirements applicable to them.”The news marks a significant step in BlockFi's long journey since filing for Chapter 11 bankruptcy protection in November 2022 amid the collapse of crypto exchange FTX.Founded in 2017 by Zac Prince and Flori Marquez, BlockFi quickly rose to prominence by offering high-yield interest accounts and crypto-backed loans. The company secured significant funding, including a $350 million Series D in March 2021 that valued it at $3 billion.However, trouble began brewing in July 2021 when several U.S. states issued cease-and-desist orders against BlockFi, claiming its interest accounts were unregistered securities. In February 2022, the crypto lender settled with the SEC for $100 million over its lending product.The killing blow came in November 2022, when FTX collapsed. BlockFi had substantial exposure to FTX and its trading arm, Alameda Research, with over $1.2 billion in assets tied up between them
BlockFi, the leading cryptoasset to USD lender, announced today it has raised $52.5M to expand operations. Galaxy Digital Ventures LLC, a digital curr
El 9 de mayo, BlockFi, que era una popular plataforma de préstamos de criptomonedas, anunció el cierre de su plataforma web. Se está asociando con Coinbase, un exchange de criptomonedas con sede en Estados Unidos, para gestionar y distribuir activos. Sin embargo, BlockFi aún no ha anunciado una fecha concreta de cierre. Este movimiento supone un giro significativo para BlockFi. Ha estado navegando por una situación financiera compleja desde su declaración de bancarrota bajo el Capítulo 11 a finales de 2022. ¿Qué les espera a los clientes de BlockFi?
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About BlockFi
Industries
Fintech
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$1.3B
Headquarters
Jersey City, New Jersey
Founded
2017
There are no jobs for BlockFi right now.
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