Rising crypto loans graph sends alarm bells ringing in Washington

TL;DR Breakdown • The crypto market has grown fast, and now companies offer crypto loans.• Loans in digital currencies generate an alarm in US banks. Crypto loans have become popular within the financial market. Companies that provide loan services in digital currencies have caused panic in the banking and put regulators to work. Flori Márquez, BlockFi Founder, said that her platform is just getting started on this important topic. BlockFi is a financial platform created in 2017 and is based in Jersey. This platform has had rapid growth within the cryptocurrency market and has close to $10 billion in digital assets. Its headquarters is across the famous Hudson River from Wall Street, and it wants to turn into the JPMorgan of digital currencies. BlockFi claims to have 850 employees and close to 450,000 retail clients. This company offers its clients crypto loans in a few minutes and does not require a credit check. BlockFi, the platform that offers crypto loans The BlockFi platform offers different financial services such as interest-bearing accounts, crypto loans, and credit cards. The great difference of this financial start-up is that it operates in the crypto market. It is considered one institution to generate an effective banking system using cryptocurrencies. Some federal officials have warned that the crypto market can be a problem for the financial industry and is susceptible to hackers in recent interviews. The cryp...