What is the Crypto Faucet?
Since the advent of cryptocurrency, blockchain technology has grown to the point that even if a cryptocurrency dips in value, it rises again even higher […]
Dear Valued Customer,
We’re acutely aware that the cryptocurrency industry has witnessed a rollercoaster of a week, with a significant liquidity crisis unfolding at a top-tier exchange known as FTX.
In light of recent events, I’m here to reassure you that blockbank’s assets are safe and secure. I would also like to confirm that we have no direct connection with FTX, and as a result, the situation does not impose a risk to our business, nor does it impact our day-to-day operations or your experience with blockbank.
Being part of the industry, we bear a tremendous responsibility for ensuring the safety and transparency of our users & your assets. Below is an overview of our policies to demonstrate our commitment towards upholding this responsibility.
Since 2021, we have worked with industry regulators and governments in operating regions to ensure your assets are protected and we remain ahead of any changes that may impact you or your investments.
We follow best practices and hold customer funds with regulated and SOC 2-compliant custodians. We don’t lend or loan user assets; as well as that, they are maintained at a 1:1 ratio. With the majority of assets stored offline, we only make available the required amounts of support for liquidity as needed at any given time.
Transparency is of grave importance to us, and we strive to ensure that you’re using the app in the way that feels most comfortable to you. You can utilize our centralized side to reap the benefits of earning, instant trading, and our very own debit card services, or the decentralized side, which is entirely non-custodial and private.
The magic of technology and striving for a secure, convenient, and accessible way of storing assets is our #1 priority.
We hope this brings you peace of mind during these uncertain times.
Co-Founder & CEO