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BlockFi raises $4M in convertible debt instruments

BlockFi Inc. raised $4 million in convertible debt investments led by Akuna Capital.

Other participants were Susquehanna Government Products LLLP, CMT Digital, Recruit Strategic Partners, Galaxy Digital Ventures, Morgan Creek Digital and Devonshire Investors.

The funding will be spent on growing the BlockFi team and launching new products including an interest-earning crypto savings account as well as a portfolio line-of-credit and crypto-backed credit cards.

BlockFi plans to roll out the crypto savings account in the first quarter of 2019.