BlockFi's crypto lending platform has raised $50M in investment led by Morgan Creek Digital. Other investors include CMT Digital, Winklevoss Capital, Castle Island Ventures, Valar Ventures, and two university funds.
The organization gathered funds at a $400M valuation. BlockFi CEO Zac Prince said the new investment would better capitalize on the business and accelerate the launch of new products. The company plans to release its bitcoin credit card. “We are going to have to spend a lot of money on marketing,” Prince said.
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BlockFi raises $50M investments with a valuation of $400M