20 Comments

7 to 15% interest institutional borrowers paying between 7 to 15% interest - this is total BS - I am HNWI and I get money thrown at me in USD 2 to 3% max a year - In Euros I can get money for even less. So what Institution pays more than I would pay? Ones with crappy credit - higher than junk bond status. The counterparty risk is off the scale

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Lmao FUD

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Is there a safe crypto lending company that people can earn interest without worrying about the platform doing crap like this?

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Well this looks like you have great prediction abilities. :)

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Damn, dude you called it

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Feb 1, 2022·edited Feb 1, 2022

Another example of these companies mismanaging client funds is BlockFi putting $2B into GBTC now trading at a 25% discount to Nav… if this loss is realized that’s a $500M loss…

https://news.bitcoin.com/dropping-gbtc-premium-anonymous-group-claims-blockfi-facing-solvency-issues-due-to-exposure-to-the-btc-trust/

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Thanks for your research.

It's always seemed to me that if these guys are completely legit and honest and open as they claim, they would have visibly cooperated with each other and lobby the SEC but they don't. Not saying they are not legit and your article raises concerns with both Celsius and Nexo. Curious about Voyager, a public company?

I believe both Alex and Antoni are generally good people. Alex much more visible, quick to and often bashing his competitors--always supported by his ambassadors and community. Nexo doesn't have the community that Celsius had built and enjoys although Celsius community has become a somewhat cultish group of cheerleaders with AMAs not answering or welcoming critical questions or opposing opinions anymore. Antoni more serious, business like, reserved. Regarding features, Celsius announces, over promises and consistently misses dates and is slow to deliver. Nexo quietly delivers the features then announces them as active often well before Celsius. Examples: Nexo has had exchanges between crypto (swaps) for almost a year and an on-ramp for some time. Earn rates more consistent/steady with Nexo 10% USDC for about a year. Fixed Term earn rates with Nexo are better than Celsius ironically suggesting Nexo is pushing for the HODL community. Both tokens have done well over the 1 1/2 years with Nexo token doing better for me than Cel. Nexo now has 0% loans for Platinum and now competes with Celsius 1% loans.

Disclaimer: I have been with both platforms for about the same time (about 1 1/2 years) with assets in both Nexo and Celsius. I go for the higher earn rates and risk balance. Lots of things to comment on but wish then both success.

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3. DeFi investments

As an avid DeFi user and the writer of Investrly, I’d like to make clear that #3 is highly inaccurate.

The yields earned in DeFi are significantly higher than what Celsius pays out.

Let that marinate and then possibly figure out how a CeFi platform may be able to offer lower yields than the DeFi ones.

“Celsius claims to generate profits by placing crypto assets in DeFi protocols.

It is highly unlikely that this is the case.

First the yields you get on most DeFi protocols are lower than what Celsius is paying.”

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What is your take on BlockFi?

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Celsius, like most other trading firms in the space, quote their interest rates off the futures yield curve. Literally the 12 month premium on BTC is 12% (~80% of which is approx. their USD offer rate)

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You are misquoting the CEO of Aubit Graham. He says, quote, "POINT-O-NINE-EIGHT" or 0.098% daily, which is 10 times less than what you wrote in your article.

You even linked to the video in which he mentions the correct value. You must have misheard him.

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The information you present about Aubit is completely false. This can get you into serious legal trouble. You intentionally misquoted the CEO to make it look like a scam, which it is not. Aubit is legit. I’d suggest you adjust your wording on them, else you are likely going to face a lawsuit sooner or later.

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Huge red flag on this article!

Everything you said about Aubit is based off you mis-hearing a video clip.

Top notch research...

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Having the Celcius bubble burst is short term bad for the whole market. But mid/long term very good because all thay money can flow into actual working products and projects like Bitcoin itself.

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