WASHINGTON—A cryptocurrency firm that allowed almost 600,000 customers to earn curiosity by lending their holdings to different merchants can pay $100 million to settle claims that its product violated investor-protection legal guidelines.
BlockFi Lending LLC, which held as a lot as $14.7 billion in belongings at its peak final yr, can pay the very best wonderful ever agreed to by a cryptocurrency firm, Securities and Change Fee officers mentioned. The settlement is the primary enforcement motion concentrating on a crypto lending platform, in response to the SEC. The corporate neither admitted nor denied wrongdoing.
