DEFI(NE)

Heard on the Block: "crypto yield"

Tuesday, January 24, 2023 by Robinhood Snacks |

đź’¸ When someone promises to pay you back "and then some"...

Money deposited in a bank usually doesn’t just sit there. Banks can lend out idle $$ and offer their customers interest payments on deposits. Crypto lenders proposed a similar model, attracting deposits by advertising "yield" — (in)famously as high as 18% — on deposited crypto. Now, as crypto lenders topple, some customers are struggling to get their deposits back.