{"id":35773,"date":"2021-02-03T10:55:52","date_gmt":"2021-02-03T08:55:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35773"},"modified":"2025-08-29T02:56:18","modified_gmt":"2025-08-28T23:56:18","slug":"blockfi-paid-28-million-in-interest-on-bitcoin-and-ethereum-deposits","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blockfi-paid-28-million-in-interest-on-bitcoin-and-ethereum-deposits\/","title":{"rendered":"BlockFi paid $28 million in interest on Bitcoin and Ethereum deposits"},"content":{"rendered":"<p>In January, BlockFi paid interest on deposits totaling more than 400 bitcoins, over 4,500 Ethereum and about 5 million in stablecoins for a record $28 million. The data was shared by the CEO of the crypto lending platform, Zac Prince.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Another record breaking month of interest payments <a href=\"https:\/\/twitter.com\/BlockFi?ref_src=twsrc%5Etfw\">@BlockFi<\/a> \ud83d\ude80<\/p>\n<p>Our clients earned over 28M in interest for January including >400 <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a>, >4500 <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\">#ETH<\/a> and >5M in stable coins<\/p>\n<p>Also we increased Litecoin rates for Feb. Thank you!<\/p>\n<p>\u2014 Zac Prince (@BlockFiZac) <a href=\"https:\/\/twitter.com\/BlockFiZac\/status\/1356277776999997440?ref_src=twsrc%5Etfw\">February 1, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Founded in 2017 and operating in the cryptocurrency lending market, BlockFi provides loans in dollars to retail clients and financial institutions, the latter \u2014 also in cryptocurrency. Deposits on the lending platform appeared in March 2019.<\/p>\n<p>According to <a href=\"https:\/\/www.theblockcrypto.com\/linked\/93197\/blockfi-generated-nearly-100-million-revenue-2020?utm_source=rss&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener noreferrer\">Block Research<\/a>, in 2020 BlockFi generated revenue of nearly $100 million with a gross margin of about 30%. The platform manages client assets of about $8 billion.<\/p>\n<p>BlockFi previously filed with the U.S. Securities and Exchange Commission (SEC) an application to <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-to-launch-a-competitor-to-grayscales-bitcoin-trust\">launch the Bitcoin Trust investment fund<\/a>.<\/p>\n<p>Earlier BlockFi <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-buys-5-07-of-grayscale-bitcoin-trust-shares-for-328-million\">acquired<\/a> about 5% of the shares of the Grayscale Bitcoin Trust for clients<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In January, BlockFi paid interest on deposits totaling more than 400 bitcoins, over 4,500 Ethereum and about 5 million in stablecoins for a record $28 million. Data was shared by Zac Prince, the CEO of the crypto lending platform.<\/p>\n","protected":false},"author":1,"featured_media":35774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,1097],"class_list":["post-35773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35773"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35773\/revisions"}],"predecessor-version":[{"id":35775,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35773\/revisions\/35775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35774"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}