PANews reported on November 8 that according to Cointelegraph, the California Department of Financial Protection and Innovation (DFPI) permanently revoked the license of the cryptocurrency lender BlockFi two years after its bankruptcy. DFPI stated that BlockFi also reached a settlement agreement, agreeing to revoke the license, stop and avoid violations, and stop unsafe practices.
In May 2024, the defunct crypto lender terminated its online platform, and a few months later, BlockFi lost its license in California. Following the closure, customers can no longer access the BlockFi platform.
