SEC: Yields too good to be true

SEC: Yields too good to be true

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Chris
Chris

An editor at Coincrop


19 Jul 2022 | 1 min read
42,764 views

T

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.


Chris

Chris

An editor at Coincrop
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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.


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