Crypto exchange BlockFi secures $250M credit from FTX amid bear market

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BlockFi was fined $100 million in February this year for its high-yield interest accounts, which were deemed as security products by the United States Securities and Exchange Commission.

Many crypto platforms also had to shut their operations and pause withdrawals owing to the bearish dominance in the market.

Related: CeFi interest on the wane: Will BlockFi, Ledn and Nexo rates trend lower?

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Article Details

Author / Journalist: Cointelegraph By Prashant Jha

Category: Crypto

Topics: Cryptocurrency Exchange Funding Credits

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 14:08:15

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 2 minutes read

Article Length: 285 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2163

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 24 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 11h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #11

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