BlockFi Raises Over $18 Million USD in Funding Spherical

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US cryptocurrency lending startup BlockFi has raised $18.three million USD in a funding spherical led by Valar Ventures, the corporate introduced on Tuesday.
BlockFi is the primary firm of its variety to obtain institutional funding for crypto-based loans in US {dollars}, within the type of a $50 million lending facility from Galaxy Digital. The brand new capital will reportedly be used to increase the array of merchandise on BlockFi’s current platform that features interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi additionally plans on utilizing the funding to double its variety of staff to 60 …
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