BlockFi loan portfolio tops $1.8 billion

BlockFi's crypto-lending liabilities totalled over $1.8 billion as of June 30, 2022.

As of June 30, 2022, the crypto-lending platform BlockFi’s liabilities to institutional and retail investors totalled more than $1.8 billion. Of these, $600 million in loans were unsecured, the company said in its Q2 report.

We’ve just published our Q2 Transparency Report with a breakdown of our total AUM, retail and institutional loans, and how we manage related liquidity and credit risk.
https://t.co/qcdRDcYmNQ

— BlockFi (@BlockFi) July 21, 2022

Institutional investors accounted for $1.5 billion of the total liabilities, with retail investors making up the remaining $300 million. The company valued assets based on Bitcoin’s market price of $19,986.

BlockFi noted that the platform has over 650 000 accounts with non-zero balances. Collectively, clients hold about $3.9 billion in digital assets across various account types.

In the report, the company noted that it developed a set of principles to help “maintain the liquidity necessary to meet obligations in the ordinary course of business.” In particular, BlockFi will hold at least 10% of client funds on the main balance for the immediate repayment of positions on user demand.

In early July 2022, BlockFi signed an agreement with the U.S. unit of FTX. The Sam Bankman-Fried-backed structure will provide the platform with a revolving credit facility of $400 million and will receive an option to buy it for $240 million.

As reported in May, the head of FTX пообещал потратить «миллиарды» on acquiring stakes in other companies.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.