Crypto platform Block Earner has raised $8 million in a Series A funding round while still dealing with an ongoing legal battle with Australia’s corporate regulator, ASIC.
The round was led by Hong Kong investor CMCC Global’s Titan Fund, with support from Sydney-based King River Capital, valuing the company at $75 million. Block Earner had earlier raised $7 million in seed funding in 2022 from Framework Ventures and Coinbase Ventures.
Founded in 2021, Block Earner encountered issues with ASIC over its old fixed-yield crypto product called Earner, which the regulator said required a financial services licence. The company shut the product down in 2022.
In 2024, ASIC initially won its case in court, but no penalty was imposed. Block Earner appealed, and in April this year the Full Federal Court overturned the earlier decision. Now, ASIC is taking the matter to the High Court after also losing a similar case against Finder’s crypto product, Earn.
Block Earner has shifted its focus to crypto-backed credit products, including Bitcoin-backed home loans with a 9.5% interest rate — more than 50% higher than regular mortgage lenders.
The company plans to use the new funding to grow in Australia, expand its products, and begin exploring international markets.
CEO and cofounder Charlie Karaboga said their goal now is to create products that let investors use their crypto just like any other asset.
“By enabling crypto to be used as loan collateral without needing to sell it, we can unlock billions in value that would otherwise sit idle in the Australian economy,” he said.
“This funding allows us to accelerate the rollout of innovative, user-friendly products across Australia and the region. By expanding access to regulated, blockchain-powered solutions, we’re showing how crypto can move beyond speculation and become a productive mainstream financial asset.”
CMCC Global Titan Fund cofounder Shiau Sin Yen said Block Earner’s API-enabled model streamlines crypto-backed lending for individuals, and also opens the door to B2B partnerships and rapid global scalability.
“We believe this infrastructure will help power the next wave of regulated digital asset adoption, and we’re excited to support the team on that journey,” he said.
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