“Given the level of institutional activity in recent months and demand for new, professional-grade investment vehicles, the timing of BlockFi Bitcoin Trust is ideal,” said BlockFi founder and CEO Zac Prince, “As we work to broaden the availability of this vehicle to retail brokerages, we expect this product will facilitate greater investments in digital assets.”
Just seven crypto companies make CBInsights’ Fintech 250
It’s a disappointing showing for the booming crypto sector—but the usual suspects including Coinbase and Binance still have a place in the list
Coinbase topped the Fintech 250 list released on Sept. 1 as the most-funded business in the crypto category. Given how rumors have been swirling of a potential stock market listing—potentially as early as this year—it’ll likely be one to watch.
BlockFi raises $50M as revenue increases tenfold
The DeFi firm, which offers crypto-backed loans and savings accounts, is planning to launch a credit card that offers Bitcoin rewards in the near future
Crypto lending firm BlockFi has raised $50 million in a funding round led by Morgan Creek Digital—with Winklevoss Capital, two university endowments, and the NBA player Matthew Dellavedova among the participating investors.
Paul Grewal poached from Facebook to become Coinbase’s chief legal officer
He replaces Brian Brooks, who left Coinbase four months ago to join the Office for the Comptroller of the Currency; Grewal may presiding over a Coinbase IPO
In a July 8 blog post announcing the hire, Grewal was described as a top executive who has “repeatedly encountered some of the largest and most complicated legal issues in tech.”