Larry Cermak is Director of Research and Analysis at The Block, a cryptocurrency and fintech publication. He formerly was Head of Analysis at Diar.
All coin and product reviews by expert Larry Cermak.
Pretty sure the [8.6% APY interest rate paid by Blockfi on GUSD] is subsidized by VC money. Not really sure how else they could be getting these rates...USDT and Dai could have around 10% but no one is using GUSD. And I’m not aware of any large lending markets that support GUSD.Full review
If Ripple ever somehow makes it work as a payments company, it will be the equity holders that benefit and the XRP holders holding a massive bag. XRP is a revenue generating mechanism for Ripple, nothing else. Ripple has so far sold $1.2 billion in XRP—[the] majority of its revenue.Full review
Tether’s customers found out that Tether was temporarily not backed 1:1 through the NYAG lawsuit. That was not communicated by Bitfinex through any official channels even though the firm made the decision months before.....Bitfinex then allegedly raised $1 billion in a private token sale to cover the inaccessible $850 million tied up with legal enforcement.
Even though Tether promised frequent attestations of its reserves, in its five-year history, Tether released three third-party attestations — one done by an auditing firm, one by a law firm and one by one of Tether’s banks — confirming Tether did have corresponding reserves.Full review