Binance.com site, right now, says you can earn 13.5% yield on your crypto deposits. How are they giving 13.5% when bank interest is less than 5%? These are the same kind of fraudulent claims made by Celsius and FTX. What makes anyone think Binance also won't fail spectacularly? Soon. #bitcoin #crypto #binance
It’s a market. https://www.binance.com/en/margin-fee
Welcome to the party. 40% of binance’s holdings is their own tokens…..sound familiar.
This is false, BUSD is not issued by Binance.
There are borrowers who borrow at that high rate. Binance connects the lenders and borrowers
Doesn't make any sense. Binance is giving high yields on crypto deposits. What would a borrower that borrows crypto from Binance do anything with it? How would they generate any gains from it that justifies paying at least 13.5% interest to Binance? This shit stinks.
They use it to fund degen / short trades etc. it's completely unsustainable OP
I can give you 35% yield if you deposit $10,000 and refer 10 friends. We created a really secure coin called Secure Crypto Alteryx Masterpiece. We expect an average return of 66% from this. We'll keep half of the returns and give you 35%. It's legit. Check my math. I'm also 28 years old and I swear I'll revolutionize the banking world. Decanteralization FTW.
how do i sign up 😂
If they truly are you better realize it's too good to be true and take your money out of that pinzi scheme while you still can
the whole "DeFi" space is a scam, as you've correctly noticed
It's a scam
The same reason Venezuela bonds are 40%+ as well.
Binance is probably playing the spread here.
Please don’t try it.