Crypto lending firm BlockFi has announced that it will raise deposit rates despite the market downturn. skesslr reports
, however, BlockFi said it will be increasing deposit rates for BTC, ETH, USDC, GUSD, PAX, BUSD, and USDT in July.
Regarding risk management, the firm touted its past conservative rate strategy as giving it the wiggle room today to boost rewards for customers in this market downturn. Turning to the changing macro environment, BlockFi reminded that the dramatic rise in U.S. Treasury yields as boosting lending rates, and therefore deposit rates.
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