If you don’t know where the yield is coming from — you are the yield. Don’t forget what happened to Celsius and FTX.
Your #Bitcoin isn’t safe on exchanges; Don’t let the Shitcoin Casinos borrow away your future! Self-custody your coins.
Discussion
8% ?! That’s A LOT
You just have to go to Aave to see what market rates for Bitcoin yield are
Devil's advocate... BTC secured, overcollateralized loans are 12-15%. Could it be an "honest" rehypothecation play? Those rates are stupid, driven by legacy liquidity's lack of understanding. CB has enough liquidity to be a bank, this could be the initial volley in a price war that they might just have a chance at winning.
I don't trust coinbase. I find the name 'conbase' funny.
Basis trading is not risk free neither is covered call writing.
Fuck black rock !
The early calls for Coinbase to be the exchange that blows up this cycle seem on target so far