The U.S. securities regulator plans to take enforcement action on the blockchain and digital currency industry, according to Chair Gary Gensler.
The state of Texas has filed a Cease and Desist order against BlockFi and claims that BlockFi's Interest Accounts are unregistered securities.
BlockFi, the popular cryptocurrency lending and borrowing platform, has been issued a cease and desist order by NJ's Attorney General.
Cred, the digital currency lending and borrowing service provider, has filed for chapter 11 bankruptcy due to fraud that impacted its balance sheet.
BlockFi has integrated support for fiat currencies, allowing clients, both domestic and global to purchase as little as $10 worth of crypto and earn interest.
Binance's new lending platform received a lot of negative attention stating that it is a very bad idea.
Dharma Labs completed a Series A funding round earlier this year to support its cryptocurrency lending platform project.
The company's new cryptocurrency interest-earning accounts originally would pay 6.2% APY on an annual monthly interest rate of 6%.