• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple And SEC Reach Major Deal: Remaining $75M Penalty Returned, Injunction Lifted
BlockFi

BlockFi Increased Deposit Rates And Removed Free Withdrawals, Here’s What We Know

anushsamal
by anushsamal
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto lending platform BlockFi has recently announced that it will be increasing its deposit rates spread across spread across a wide range of cryptocurrencies. It also mentioned that it has decided to rescind permitting the policy of one free withdrawal that was previously available every month.

This particular announcement was followed after BlockFi provisionally bagging a $250 million revolving credit line from FTX. Amidst concerns regarding the company’s financial status , the lending platform has fired 20% of its staff in order to improve their finances.

The policies that BlockFi has decided to implement shall be made effective from July 1. The reason behind such policies are attributed to proper risk management strategies as mentioned by the company.

It also includes effectively helping bring down its market competition and overall enhance the macroeconomic yield conditions of the platform.

BlockFi And Its Recent Policy

In BlockFi’s recent most policy, the rates for BTC, ETH, USDC, GUSD, PAX, BUSD and USDT into BlockFi Interest Account (BIA) have all been hiked.

In order to defend the price initiative the platform stated that the previous rates had provided chance of bigger customer rewards during the crypto market crash. In their official Twitter account, it had announced the increase of the rates across all tiers of the aforementioned cryptocurrencies.

For instance yields on Bitcoin shall be hiked by 0.50% to 1.90%. Ethereum will see an increase by 0.50% to 1.75%. Stable coins on the other hand will also see a similar hike by 0.50% to 3%.

With this the rates for Bitcoin and Ethereum will start to fall between the range of 2% and 3.50% while stable coins will oscillate between 6% to 8.75%. This hike shall come into effect at the beginning of next month.

In relation to withdrawal fees the company has stated that it would lower them. Withdrawal fees for Bitcoin will fall by $1 and $2 for Ethereum, while stable coins will see a fall of $25. Along side this BlockFi will completely do away with “one free withdrawal per month” policy.

Related Reading | BlockFi Mentions That It Liquidated Three Arrows Capital, Here’s What We Know!

Reason Behind The Policy

BlockFi is of the opinion that these policies will change three very important factors that shall allow the rate boost of the platform. These three factors include effective risk management, decreasing market competition and a changing macro yield environment.

While mentioning the reason of risk management, Blockfi seems to be confident that the new strategy will bring down competition from other companies. This is so as BlockFi shall provide a 100% uptime of its retail platform and its institutional lending desk while the other platforms shut withdrawals.

It also stated that it had never gotten exposure to UST or stETH because of increased volatility in the crypto market over the past two months.

BlockFi also has pointed towards the rise in US Treasury yields boosting lending and deposit rates for those uninitiated Treasury yields are annual interest paid out to investors who hold a government security.

Related Reading | Data Leak At Unchained Capital, NYDIG, Swan & BlockFi. At The Same Time

BlockFi
Bitcoin was priced at $21,000 on the four hour chart | Source: BTCUSD on TradingView
Featured image from Forbes, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
anushsamal

anushsamal

Follow

Full Profile

Related Posts

next-crypto-to-1000x-brazils-first-btc-treasury-co

Next Crypto to 1,000x as Brazil Fintech Firm Becomes First Publicly-Traded Bitcoin Treasury Company

8 hours ago
Best Crypto to Explode as US Banking Deregulation to Trigger Bull Run

US Banking Deregulation to Trigger Stock & Crypto Bull Run, Here Are The Next Crypto to Explode

8 hours ago
The best new crypto to buy as Robbie Ferguson says Web3 gaming could triple crypto DAU

The Best New Crypto to Buy as Robbie Ferguson Says Web3 Gaming Could Triple Crypto DAU

9 hours ago
Will $BTC Replace Gold? JPMorgan Thinks So – Bitcoin Bull Token to Rally Next?

Will $BTC Replace Gold? JPMorgan Thinks So – Bitcoin Bull Token to Rally Next?

11 hours ago
Coinbase Hack Shocks the Crypto World: Choose Non-Custodial Wallets like Best Wallet Instead

Coinbase Hack Shocks the Crypto World: Choose Non-Custodial Wallets like Best Wallet Instead

12 hours ago
Crypto

Crypto Cold War? Trump Says US Is Beating China In Digital Assets

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Winner Mining offers a user-friendly cloud mining platform...

    3 hours ago
  • Solana (SOL) Holders Join ALL4 Mining Cloud Mining Service...

    3 hours ago
  • Best Cloud Mining with FioBit? The 2025 Crypto Investor’s...

    3 hours ago
  • XRP Price Prediction: How XRP Enthusiasts Can Make $13,000...

    3 hours ago
  • Nikita Anufriev, Founder of ‘Headliners’...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Join Lightchain AI

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.