California's Department of Financial Protection and Innovation wants bankrupt BlockFi Lending LLC's state financing law license revoked, a move that comes after the regulator found that the New Jersey-based lender failed to perform adequate underwriting when making loans, according to a statement.
The Washington Department of Financial Services has issued a fresh warning to residents to be cautious about investing in “unregulated” products in light of the failures of FTX and BlockFi, the cryptocurrency exchanges that collapsed into bankruptcy.