BlockFi $100m Fine And Most Expensive CryptoPunk NFT Sold For $23.7M

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BlockFi, the well-known crypto lending platform where you can receive interest on your crypto, may have to pay $100 million to the Securities and Exchange Commission and state regulators. The NFT madness hasn’t cooled off either, today CryptoPunk #5822 was sold for almost $24 million in Ethereum.

Fine for BlockFi

The exact amount will probably be announced next week, but according to Bloomberg it will be about $100 million. Of this, $50 million must be paid to the SEC and $50 million to various states. This would be the highest fine for a crypto company in America. New US users will no longer be allowed from now on.

BlockFi offers crypto interest rates of up to 9.25% and has more than 1 million users.

BlockFi spokesperson Madelyn McHugh reports:

We can confirm that clients’ assets are safeguarded on the BlockFi platform and BlockFi Interest Account clients will continue to earn crypto interest as they always have.

Statement from BlockFi: pic.twitter.com/gcqbg8zqAv

— BlockFi (@BlockFi) February 12, 2022

Most expensive CryptoPunk NFT sold for $23.7 Million

Today the most expensive CryptoPunk NFT has been sold for a whopping 8000 ETH. Chain CEO, Deepak Thapliyal aka Deepak.eth, is behind this purchase and says he was able to purchase it using CompoundFinance.

Thanks to @CompoundFinance I am able to still HODL #ETH while buying this. Basically Long’d ETH to punk-in 👽. #DeFi FTW

— Deepak.eth ⛓ (@dt_chain) February 12, 2022

Earlier in 2017, this NFT was sold for 8 Ether, and there have been multiple bids of millions of dollars. There are only 9 of these Alien CryptoPunks available.