Centralizirani kripto zajmodavci smanjuju stope kako tržište pada

There has been a significant drop in the yield rates offered by crypto yield platforms. Circle, the issuer of stablecoin USDC, used to offer rates of 6-8 % APY, ranging from 1-12 months. However, they currently offer a yield rate of 0.5% for terms of any length. 

Crypto.com also slashed its yield rates. The exact rates depend upon the cryptocurrency and the amount of $CRO staked. The yield rate for BTC and ETH can be samo 0.2%. Crypto.com also recently slashed the rewards on its prepaid VISA cards, causing its native token CRO to slump massively.

The reduced yield rates are causing a major cause of concern over the future of yield platforms.

Circle Faces Questions Over Solvency

The low yield rates come amidst a time when there have already been questions surrounding Circle’s future.

Geralt Davidson, a crypto trader, alleged that Circle is on the verge of bankruptcy. The claims were made on the basis of a recent SPAC IPO filing, which showed that Circle had recently lost money. He also claimed that a lot of positions held by Circle may have been exposed to firms like 3AC and BlockFI, which explains their dwindling interest rates.

Reggie Middleton, a developer of peer-to-peer capital markets, also upitan Circle’s ability to meet yield obligations. 

Jeremy Allaire, the CEO of Circle, came out in defense of his platform. He reaffirmed that Circle is in the strongest position ever. He disclosed that their platform has faced zero issues because the Circle Yield is regulated and over-collateralized. 

Centralized Yield Platforms Face Scrutiny

Following the crash of multiple centralized exchanges and yield platforms, there have been a lot of questions about their financial stability. 

Yesterday, Voyager suspended all its services after revealing that they had major exposure to the crypto hedge fund, 3AC, which also became insolvent recently. Singapore-based Vauld also zaustavljeno its services citing market conditions. Celsius and BlockFi also suffered heavy losses in the bear market.

Nidhish je tehnološki entuzijasta, čiji je cilj pronaći elegantna tehnička rješenja za rješavanje nekih od najvećih društvenih problema. On čvrsto vjeruje u decentralizaciju i želi raditi na masovnom usvajanju Blockchaina. Također se bavi skoro svim popularnim sportovima i voli razgovarati o raznim temama.

Predstavljeni sadržaj može sadržavati lično mišljenje autora i podložan je tržišnim uslovima. Istražite tržište prije nego što investirate u kriptovalute. Autor ili publikacija ne snosi nikakvu odgovornost za vaš lični finansijski gubitak.