Why Bitcoin companies like Blockfi are going Bankrupt
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Blockfi is a platform that will hold your Bitcoin for you and generate a return. They call the return a yield, APY, whatever. But how do they guarantee these % returns? The answer is they gamble with your funds. They don't tell you exactly what they're investing in; the only thing they tell you upfront is the guaranteed return. But what happened now is
Why Bitcoin companies like Blockfi are going Bankrupt
Why Bitcoin companies like Blockfi are going…
Why Bitcoin companies like Blockfi are going Bankrupt
Blockfi is a platform that will hold your Bitcoin for you and generate a return. They call the return a yield, APY, whatever. But how do they guarantee these % returns? The answer is they gamble with your funds. They don't tell you exactly what they're investing in; the only thing they tell you upfront is the guaranteed return. But what happened now is