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Larry Cermak

Larry Cermak is Director of Research and Analysis at The Block, a cryptocurrency and fintech publication. He formerly was Head of Analysis at Diar.

Reviews by Larry Cermak

All coin and product reviews by expert Larry Cermak.

  • Larry Cermak on Gemini Dollar Director of Research at The Block

    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 💩


  • Larry Cermak on Decentraland Director of Research at The Block

    Civic, Golem, and Decentraland had less than $12,500 of volume combined on Coinbase in the last 24 hours. That's 0.007% of Coinbase's total volume.

    Coinbase, can you please remind me again why you continue to list this trash?

    Full review 💩


  • Larry Cermak on XRP Director of Research at The Block

    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 💩


  • Larry Cermak on Tether Director of Research at The Block

    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.

    In contrast, Tether’s competitors release monthly attestations done by auditing firms — TrueUSD, USDC, Paxos and GUSD.

    Full review 💩