SEC: Yields too good to be true
Share this article
An editor at Coincrop
19 Jul 2022 | 1 min read
he U.S. Securities and Exchange Commision Chairman Gary Gensler has complained that cryptocurrency saving companies are offering unrealistic returns.
“If it’s too good to be true, then maybe it is,” Gensler said, citing returns on crypto deposits ranging from 4% to 20%, which have been offered by numerous companies and marketed as safe to investors. “There can be a lot of risk in that.”
The comments come against a crypto bear market with serveral high profile saving platforms entering into bankruptcy. Saving platforms Celsius and Voyager Digital have entered into bankruptcy protection.
ChrisAn editor at Coincrop
Chris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.
CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.
Compare over 47,145 CeFi and DeFi products across more than 224 organizations here