BlockFi Slashes Ethereum (ETH) Interest Rate, Bumps BTC

Cryptocurrency lending firm BlockFi has announced an update to their interest rates for Bitcoin and Ethereum, with the latter experiencing a severe cutback.

According to the monthly update published on May 21, BlockFi reports that the month has been “fantastic” for the crypto ecosystem, and predicts the bear cycle is likely reaching its end. The company highlights the thousands of fans, traders and entrepreneurs who attended the 2019 Blockchain Week held in New York City as a testament to the industry’s growth. In addition, BlockFi reports that that their interest account now commands over $100 million in digital assets being managed, marking a substantial milestone for the financial product since its launch earlier this year.

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