BlockFi filed for bankruptcy on November 28, 2022. The card program has been terminated.
| Product Type | Visa Signature Credit Card |
| Card Issuer | Deserve (bank partner) |
| Cashback | 1.5% in Bitcoin |
| Annual Fee | $0 |
| Shutdown Date | November 28, 2022 |
| Reason | FTX Collapse / Bankruptcy |
BlockFi offered one of the first Bitcoin rewards credit cards in the US, providing 1.5% cashback in Bitcoin on all purchases. The card had no annual fee and offered enhanced rates for initial spending and stablecoin purchases.
In June 2022, FTX US extended a $400 million line of credit to BlockFi with an option to acquire the company. When FTX collapsed in November 2022, BlockFi's lifeline evaporated.
On November 11, 2022, card holders received notice that purchasing privileges were suspended. BlockFi filed Chapter 11 bankruptcy on November 28, 2022.
Early 2022
BlockFi card operating normally with 1.5% BTC rewards
June 2022
FTX extends $400M credit line to BlockFi
November 8, 2022
FTX begins collapsing
November 11, 2022
BlockFi card purchases suspended
November 28, 2022
BlockFi files Chapter 11 bankruptcy