Die Verzögerung bei der Verabschiedung des europäischen Krypto-Regulierungsentwurfes ist nicht inhaltlich bedingt, wie Stefan Berger bestätigt.
BlockFi reopens Interest Yield Product for accredited US investors
Crypto lending platform BlockFi in a press release on November 7 stated that it will reopen the BlockFi Yield, an interest-bearing digital asset account, by the end of 2022 to US accredited investors.
The Beta version will be available to first select US investors starting at the end of the year. The product will afterwards be available to all US clients at the start of 2023 allowing investors to earn interest on digital assets.
The BlockFi Yield offers competitive interest rates on digital assets with no minimum investment requirement. To access the product, however, US investors will require to complete an investor accreditation process.
So far BlockFi has paid out more than $600 million in interest since it began offering BlockFi Yield.
BlockFi had initially suspended the product in the US
In February this year, BlockFi stopped offering BlockFi Yield to US clients after the US SEC accused the firm of failing to register the product. BlockFi was fined a total of $100 million by the SEC and state regulators which BlockFi agreed to pay. BlockFi has also agreed to stop opening new US accounts.
The charge against BlockcFi came right on the heels of the collapse of Voyager and Celsius, which necessitated scrutiny of the crypto space.
To remain operational in the extended crypto winter, BlockFi laid off about 20% of its workforce, reduced marketing expenses, reduced the salaries of executives, and also removed non-essential vendors. BlockFi also secured $250 million from the currently embattled FTX exchange, as reported in previous news here, in revolving credit.
In preparation for the reopening of the product to US customers, the founder and COO of BlockFi, Flori Marquez, said that the crypto lender is working on having the product registered with the SEC before offering it to the public.
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Crypto market maker Wintermute has funds stuck on FTX
Crypto market maker Wintermute has confirmed that it has funds stuck in the embattled crypto exchange FTX. However, the firm has said that the amount of funds held in the exchange is not much and they are within their risk tolerance.
Wintermute further said that the funds will not impact its overall financial standings. The firm said that it has put in place risk controls and efforts to remove some of the funds from the exchange prior to the collapse although some funds still remain.
In a tweet Wintermute said:
“We do have remaining funds on FTX, and while this is not ideal, the amount is within our risk tolerances and does not have a significant impact on our overall financial position.”
Firms allay fears of exposure to FTX
As reported in our earlier news, Coinbase, Tether, and Circle have come out to assure their customers that they are not exposed in any way to either FTX or its sister firm Alameda Research after FTX announced plans to sell itself to Binance in the wake of liquidity crunch.
While Wintermute said that it has funds stuck in FTX, it, however, clarified that it has no exposure on FTX’s native token FTT whose price has drastically dropped since the whole FTX saga started.
Wintermute said:
“As a market-neutral trading firm, we do not have any directional exposure to FTT tokens or related ecosystem assets.”
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US-Senatorin Lummis drängt wegen FTX und Binance auf Krypto-Regulierung
Die US-Politikerin, die eigentlich als Fürsprecherin der Kryptobranche gilt, hält es aktuell für notwendiger denn je, einen Gesetzesrahmen für Kryptowährungen zu schaffen.
Coinbase, Tether, and Circle deny exposure to Alameda and FTX
Several crypto firms have come out to distance themselves with exposure to FTX crypto exchange and its sister firm Alameda amid the financial crisis facing the two firms. This comes after calls from the crypto community for transparency to let users know if there is any risk.
Tether’s Chief Technology Officer Paolo Ardoino has come out to clarify via Twitter that the Stablecoin issuer does not have exposure to either FTX or Alameda. Replying to Wu Blockchain’s tweet that said “Circle and Tether should disclose more of their financial relationship with FTX Alameda to let users know if it’s a risk,” Paolo tweeted said:
“To be clear: #Tether does not have any exposure to FTX or Alameda. 0. Null. Maybe is time to look elsewhere. Sorry guys. Try again.”
Similarly Circle’s CEO Jeremy Allaire took to Twitter to clarify that Circle also does not have any exposure to FTX or Alameda. In his tweet, Jeremy said:
“Circle has no material exposure to FTX and Alameda. FTX has been a customer of Circle Payment APIs for the past 18 months, providing card and ACH services for customer transactions. Circle’s crypto payments beta product uses FTX and other exchanges, for BTC/ETH liquidity.”
Coinbase confirms no exposure despite its shares dropping
The CEO of Coinbase, Brian Armstrong, also took the opportunity to assure customers that the crypto exchange has no material exposure to FTX crypto exchange or its native token FTT. The exchange tweeted saying:
“Second, Coinbase doesn’t have any material exposure to FTX or FTT (and no exposure to Alameda).”
Despite the assurance from the exchange’s CEO, Coinbase’s shares started the day with a −1.75 (3.45%) drop.
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