BlockFi’s Loan Portfolio Exceeds $1.8 Billion

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The portfolio of crypto lending platform BlockFi included commitments from institutional and retail investors in excess of $1.8 billion as of June 30.

At the same time, according to the report for the second quarter of the year, loans for $600 million were unsecured.

Per the report, institutional investors accounted for $1.5 billion of the total liabilities, whereas retail investors accounted for the remaining $300 million. The company assessed assets based on the market value of Bitcoin at $19,986.

BlockFi has said there are more 650,000 accounts with a non-zero balance registered on the platform. In total, clients hold about $3.9 billion in digital assets in various types of accounts.

The company has also noted it has developed a set of principles that help “maintain the necessary liquidity to meet obligations within the core business.”

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.