BlockFi To Pay $100M in Settlement With SEC

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Today’s Cryptocurrency Headline

Crypto lender BlockFi will pay the U.S. Securities and Exchange Commission (SEC) $50 million and stop opening new accounts for its high-yield loan products to most Americans, with existing accounts seemingly unaffected. BlockFi will also pay an additional $50 million to state regulators. The BlockFi interest account has already faced scrutiny from securities regulators in New Jersey, Texas, Kentucky, Alabama as well as Vermont and the company has also been under investigation since November 2021 over the loan product, which offers yields of up to 9.5%.

BingX’s Bitcoin Chart

Source: TradingView& BingX

Average transaction fees on the Ethereum network have fallen to their lowest level in four months. Transactions on Ethereum are cheaper today than in mid-January 2022, which cost 0.0052 ETH or $15.13 per transaction. BTC was roughly flat over the last 24-hours, and price movement continues to slow down. This cryptocurrency remains below the overhead resistance of $45,500, and above the $40,000 psychological support level. We are likely to see trading in the $40,000 – $45,500 price zone over the next few days. 

 

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