Three days after receiving a $250 million revolving line of credit from FTX, BlockFi is increasing the yield on its lending products for <a href="https://www.cryptoknowmics.com/news/bitpanda-a-peter-thiel-backed-bitcoin-trading-platform-reduces-staff/" target="_blank" rel="noopener">Bitcoin</a>, Ethereum, and Stablecoins.

https://twitter.com/BlockFi/status/1540363670739369988
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<h2>Effective Risk Management's Influence</h2>
The interest rates for BlockFi's loan products will be increasing soon. The cryptocurrency lending firm will be raising its rates across all levels for Bitcoin, Ethereum, and other stablecoins like USDC, USDT, GUSD, PAX, and BUSD, according to its official Twitter account. The Bitcoin yield will rise from 0.5 to 1.9 percent, Ethereum from 0.5 to 1.75 percent, and stablecoins from 0.5 to 3 percent. As a result, Bitcoin and Ethereum rates are between 2 and 3.5 percent, and stablecoins are between 6 and 8.75 percent.
<h2>Price Hike in July</h2>
Beginning in July, the price hike will take effect. Additionally, the company will reduce withdrawal costs for Bitcoin, Ethereum, and stablecoins by $1, $2, and $25, respectively. On the other side, the company will discontinue its "one free withdrawal per month" policy altogether. Notably, the report did not mention the $250 million loans the business received from the cryptocurrency exchange <a href="https://ftx.com/en" target="_blank" rel="nofollow noopener">FTX</a> three days prior. The company's balance sheet and platform strength have been "bolstered" by the loan extension. The business had already fired 20% of its staff and paid off a loan made to well-known cryptocurrency hedge fund Three Arrows Capital.

After FTX's Bailout, BlockFi Raised Rates Three Days Later

After receiving a $250 million revolving line of credit from FTX, BlockFi raises the yield on its lending products for Bitcoin, Ethereum, and Stablecoins.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

After FTX's Bailout, BlockFi Raised Rates Three Days Later

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