✂️ Crypto lender BlockFi cuts interest rates paid to largest account holders
Crypto wealth management firm BlockFi has cut its interest rates for accounts holding more than 25 Bitcoin ($BTC) or 500 Ethereum ($ETH) from 6.2% to 2%. Only 1% of total BlockFi clientele are affected. BlockFi states that the high demand from institutional investors of over $1 million deposited forced the interest rate cut.
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