Mike Novogratz’s Merchant Bank Bets Big on Crypto Lending Platform ‘BlockFi’

[kreslik.news]

Mike Novogratz’ crypto merchant bank, Galaxy Digital, has announced that it is the leading contributor in a $52.5 million fundraising round for BlockFi, a crypto lending startup. The company raised its funding over two rounds, the first bringing in a total of $1.55 million in February. Top contributors in the initial round were Kenetic Capital, Consensys Ventures, and SoFi.

The young company, which is based in New York, offers lending products and services to both corporate and retail customers. Business Insider reports that BlockFi’s loan book is “in the millions.” The company also reportedly has plans to ... (read more)