Former Oklahoma State star Cade Cunningham's multi-year deal with the crypto lender includes a bitcoin signing bonus.
Kentucky is the fifth state to allege BlockFi Interest Accounts are securities.
An order by the New Jersey Bureau of Securities had already been delayed once.
Alabama, Texas and New Jersey are investigating whether the firm's marquee offering violates local securities laws.
The crypto lender is days away from closing a $500 million Series E, sources say. A timetable for a public listing is circulating among investors.
The DeFi industry should watch closely the regulatory actions taken against BlockFi and the securities questions being raised, CoinDesk columnist Preston Byrne writes.
The Lone Star state’s proposed cease-and-desist order would bar BlockFi from offering interest accounts without registering with the state’s securities regulator.
The state’s securities regulator contends BlockFi is selling an “unregistered security” to its customers.
Spending on crypto-related cards is now its own category at the payments giant, said Visa’s Cuy Sheffield.
Zac Prince said the average balance of a retail client has climbed from $10,000 to $50,000 in the last year.
BlockFi launched BlockFi Prime as more institutional investors show an interest in crypto.
Unnamed sources tell The Information that BlockFi is seeking another mega-round.
The faulty deposits left users confused and frustrated.