On Wednesday, June 26, 2019, 04:07:19 PM EDT, BlockFi [email protected] wrote:
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BlockFi to Pay Out over $700K Worth of Crypto
JuneEarnings
June is bringing about the end of a positive quarter all around. The BlockFi Interest Account has grown to over $185MM* of crypto custodied by Gemini, based on current prices at publication, thanks to the continued support of our global community. We are excited to see increased demand for our products in Great Britain, Canada and South Africa. And most importantly, the price of Bitcoin at publication is at a YTD high of $12,800.
This month we focused on sharing our internal research with our community. We published two articles, sharing data only available to BlockFi:
The primary use case for taking out a crypto-backed loan is starting a business
The most active participants in the crypto lending market are Market Makers
For the first time in history, people are able to earn interest on their cryptoassets, and we have seen that BlockFi clients interact with their accounts very differently than how users treat other interest-bearing products outside of crypto. This week we’ll be releasing new insights on deposit and withdrawal patterns. Check out all of our past articles here.
With the recent rally, we believe many of our clients are continuing to add more BTC and ETH into their portfolios. If you are one of these market participants, make sure that you are optimizing your gains by posting your crypto into the BlockFi Interest Account.
Deposit More Crypto
BlockFi Product Updates
Over this past month, we’ve been busy expanding our product offering, increasing security on client dashboards and adding valuable information to your account. In June we:
Made GUSD available for earning interest in certain jurisdictions
Added withdrawals to our dashboard – please make sure to turn on 2FA to secure your account if you haven’t already done so
USD account values are now available on your dashboard powered by Gemini. Gemini partners with BlockFi by providing custody for all incoming deposits. Read more about our partnership here
Next month we’ll be making a meaningful updates to your homepage to make it easier to navigate. Based on feedback from clients we’ll be:
Removing the maximum amount to earn 6% on GUSD and GUSD withdrawals of $250K or greater will be subject to a 30-day window
Allowing clients to deposit, withdraw and view transactions for the BlockFi Interest Account in one place
Releasing an update to crypto-backed loans to speed up the approval time
Streamlining the identity verification process
Your needs are our priority. Next month, we will be sending all existing BlockFi clients surveys to help us understand more about our clients’ experience with BlockFi and prioritize what we should improve next. In the meantime, you can always submit feedback here.
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Market Commentary
by our partner
DelphiDigitalWhiteLogo
Screen Shot 2019-06-25 at 4.24.17 PM
Bitcoin broke above $11,000 this weekend for the first time since March 2018, bringing its total market value to just shy of $200 billion. The acceleration in BTC’s price appreciation has left many skeptics hurting while the world’s largest crypto asset is within breathing distance of a 200% gain year-to-date.
All eyes were on the Federal Reserve this past week, which put the final nail in the coffin for tighter monetary policy by opening the door for rate cuts starting as early as next month. Fed funds futures data tracked by the CME Group’s FedWatch Tool currently shows a 100% probability of a rate cut at July’s FOMC meeting and a +60% chance of at least three rate cuts by the end of the year.
Gold was one of the big winners following the FOMC’s more dovish commentary, breaking out of its sideways trading range to a new 5- year high. Barely positive real interest rates, rising risks from ongoing trade disputes, and slowing economic growth constitute a pretty favorable backdrop for gold to run higher.
Read More Commentary
Refer a friend
One of the easiest ways to earn free crypto is by referring your friends! We pay out 10% of all interest earned directly to people who have referred their friends. Read how to earn your share here.
Learn about Refer A Friend
Copyright © 2019. BlockFi, All rights reserved.
Contact Us:
E: [email protected]
T: (646)-779-9688
M: 201 Montgomery Street, Second Floor, Suite 263
Jersey City, New Jersey 07302
*All USD values are based on the current price available from Gemini
Disclaimer: This is a marketing email developed as marketing material for the BlockFi brand. Some of our emails may contain marketing links, which means we will receive a commission for purchases made via those links. Rates for BlockFi product rates are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. All Interest Account balances are stored in a custodial account with Gemini
BlockFi, 201 Montgomery Street, Second Floor, Suite 263, Jersey City, NJ 07302, USA, 646-779-9688
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