According to the March 11 announcement, partners Bain Capital Ventures, Pomp Investments, Tiger Global and DST Global have led investors into a $ 350 million Series D financing round for cryptocurrency lender BlockFi.
The company indicated that with the addition of these funds, in addition to the $ 100 million raised in three previous rounds of financing over the past two years, BlockFi is now valued at $ 3 billion. It is reported that the secured funds will be used to expand the company’s cryptocurrency offerings, including Bitcoin Rewards (BTC) credit cards and Bitcoin Trust.
“In less than six months since we completed Series C, Bitcoin and other digital assets have played a key role in many investor portfolios and broader financial markets,” said Zach Prince, co-founder and CEO of BlockFi. Democratize finance, act as a hedge against inflation and expansionary monetary policy, and promote financial technology innovation and access to financial services.
The announcement came the same week that BlockFi temporarily banned new user registrations following reports of an “attacker” using genuine email accounts to deliver obscene messages to users of the cryptocurrency lending system. The platform reactivated the subscriptions for new customers yesterday.