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SEC Reportedly Looking Into BlockFi’s Crypto Yield Products
The crypto lender was already in hot water with a number of state securities regulators earlier this year.

BlockFi’s high-yield crypto interest products have reportedly come under the federal microscope.
Citing one anonymous source, Bloomberg reported Wednesday the U.S. Securities and Exchange Commission (SEC) is “scrutinizing” the New Jersey-based crypto lender. Reportedly at issue are BlockFi’s marquee landing products, which can yield as much as 9.5%.
BlockFi has maintained that its product is not a security. But securities regulators appear to disagree. Earlier this year, a bevy of state-level agencies opened investigations into BlockFi, which would make the SEC only the latest force to give a look.
BlockFi declined to comment.
Read more: NJ Regulators Give BlockFi 1 Week Before Blocking New Interest Accounts
UPDATE (Nov. 17, 14:43 UTC): Adds that BlockFi declined to comment.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
