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The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lending platform Blockfi in a first-of-its-kind action. The crypto lender has agreed to pay $100 million to settle the charges and pursue necessary registrations. SEC Charges Crypto Lending Platform Blockfi The U.S. Securities and Exchange Commission (SEC) announced Monday that crypto lending platform Blockfi has […]Powered by WPeMatico
New York Attorney General Letitia James has ordered two cryptocurrency lending platforms to shut down and requested three other platforms to answer questions regarding their activities immediately. The letters to the companies published on the attorney general’s website indicate that the two platforms are Nexo and Celsius Network. New York Cracks Down on Unregistered Crypto […]Powered by WPeMatico
Celsius Network, a cryptocurrency lending platform, will begin offering compounded interest on cryptocurrency deposits
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One peculiar trend in the cryptocurrency industry is how crypto loans can become very lucrative. A lot of platforms and services now offer interest rates of up to 10% for specific currencies and assets. Although this gets many people excited, one has to openly question how sustainable this business model really is. Establishing Interest Rates The cryptocurrency lending business model is not that different from a bank loan. People are looking for funds and need to put up some form of collateral before they receive the money. Based on the amount of funds being lent, as well as the duration
The post High Interest Rates on Cryptocurrency Loans are not Sustainable appeared first on The Merkle Hash.
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