BlockFi to Raise Interest Rates on Crypto Deposits, despite Encounter Bear Market

  1. Could be a sign of desperation. Anyway, I am not lending my assets to any of these CeFi companies for a 5% yield with a risk of 100% loss.

  2. They did this at the same time they removed the “one free withdrawal per month” perk. Fair enough, IMO. In the current market, free withdrawals on a CeFi platform are not a great business idea. And it at least softens the blow if they give customers something in return for taking a feature away.

  3. Essentially by bringing in more deposits they will have higher liquidity now. This will ease the pressure from those who want to withdraw. Meanwhile, they can reduce interests rates whenever they want to get things under control.

  4. Seeing you are a buttcoin poster, I think yours is just a stupid bias statement lmao. The fact that Celsius and UST incidents getting mentioned regularly here, and also look at the comments here already prove your butt joke here.

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