Blockchain Bites: Ethereum’s Fees, Bitcoin’s Pullback, Ren’s Great Week

BlockFi has raised a Series A, B and C within a 12-month span, an ICO’s investors can’t find the people they’re trying to sue and stablecoin demand may become unbalanced by traders ditching a “market-neutral strategy.”

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Top shelf

Semper BlockFi?
Crypto lender BlockFi closed a $50 million Series C led by Morgan Creek Digital and with participation from Peter Thiel’s Valar Ventures – the lead investor in BlockFi’s A and B rounds – Castle Island Ventures, Winklevoss Capital as well as NBA player Matthew Dellavedova and two unnamed university endowments, among others. BlockFi has now raised $100 million in the past 12 months, has accrued $1.5 billion in crypto assets on its lending platform, and sees about $10 million in monthly revenue. So why the raise? CEO Zac Prince said BlockFi is still trying to add personnel and keep equity capital stable in order to quickly expand geographically, CoinDesk’s Nathan DiCamillo said.

Error 404: promoters not found
Investors in a $12 million ICO want their money back, but the celebrity couple behind the project has disappeared, CoinDesk’s Leigh Cuen reports. A district court ruled investors in the marijuana project Paragon can pursue a class action. The project appears to have been helmed by Jessica VerSteeg, a former Iowa beauty queen and reality star, and her husband, Russian entrepreneur Egor Lavrov. Rapper “The Game” is also listed as a defendant, among several technologists. It’s unclear if any of the project’s stated plans to revolutionize the marijuana industry would have materialized had it not been for legal action from the SEC in 2018.

DeFi headlines
Algorand has unveiled smart contract capabilities aimed at luring DeFi projects away from its larger competitors. New…

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