Crypto lending Entity BlockFi Secured $350M Via New Funding Round

By Emily Rys | March 24, 2021

BlockFi has reportedly secured $350 million via a series D funding round, led by Bain Capital Ventures, Pomp Investments, Tiger Global, and partners of DST Global. 

Specifically, the firm reportedly disclosed that with the newly added funds, together with the $100 million secured through three previous  funding rounds throughout the past two years, BlockFi’s value has climbed up to $3 billion.

The secured funds will reportedly be directed to widening the scope of the crypto offerings at the company, including a Bitcoin (BTC) rewards credit card and a Bitcoin trust.

“In less than six months since we completed our Series C, Bitcoin and other digital assets have assumed a central role in many investors’ portfolios and in broader financial markets” BlockFi co-founder and Head Zac Prince reportedly remarked. 

Per Prince, crypto assets will reportedly keep finance democratized, functioning as a hedge against inflation and expansionary monetary policy, as well as promoting innovation in financial technology and accessibility to financial services. 

The development was reportedly revealed in the same week that BlockFi halted new user registrations temporarily, after reports indicating a “malicious actor” utilizing real email accounts to send profanity-laced messages to users of the crypto lending platform. 

New user registration features have reportedly been back to normal on March 10th.

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