SEC: Yields too good to be true
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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.
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