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Basically all the high interest USD interest lending was done by large companies investing in UST and skimming the excess interest for themselves. How many are really bankrupt now?

Basically all the high interest USD interest lending was done by large companies investing in UST and skimming the excess interest for themselves. How many are really bankrupt now?

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If it sounds too good to be true , it probably is. Invest only in solid projects but DYOR and make sure you do due diligence , and make sure that it actually makes business sense.

If you wondered where Celsius and others like NEXO get their interest rates from, it seems it was also UST plus investing in Ethereum, so crypto exposure for your USD loans.

Celsius invested everyones money into Ethereum and also UST without their knowledge. ETH and UST did go down, so they likely lost a lot of the money and may be running on fractional reserves now.

Source: Celsius UST and ETHereum investment https://www.theblockcrypto.com/post/146752/celsius-pulled-half-a-billion-dollars-out-of-anchor-protocol-amid-terra-chaos?utm_source=feedly&utm_medium=rss

Stablegains - A US company, bankrupt due to UST anchor protocol, previously they paid 15% interest https://old.reddit.com/r/CryptoCurrency/comments/ut4esc/stablegains_a_registered_company_in_us_was_taking/

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