Being more careful with Blockfi

I have my crypto spread among Celsius, Nexo and Blockfi and cold storage in equal terms (25%) each to hedge my bets.

Recently I have noticed a lot of articles about Blockfi lowering their rates without a lot of reasonable concrete explenations so I looked a bit further.

I believe Blockfi is the least transparent of them all in a sense. To me, Celsius is a lot more open about how they do things

So this is a take on the article written by @johnwege

All major platforms were marketing their interest accounts like:

we take your BTC and lend it out to these vague unknown institutions who pay us for that BTC and the client gets the majority of that return and we take our cut.

But if you look at a protocol like AAVE it is clear that the market for BTC is not as big as they make it out to be so they have to get the yield somewhere else.
For Blockfi part of that was taking advantage of the grayscale arbitrage (Which for me is a ploy for the rich to milk the small investors)

I just do not like that lack of transparency.

The openness of the decentalised platforms is part of why we want to get away from the banks and the legacy system in the first place.

I do not believe that the company is in systemic trouble but I do believe that it warrants a bit of prudency. I do not have more then 1 BTC on the platform and do not plan to put more in either. So the rate will stay probably lower from 25% in blockfi to 15% over time as I will be funneling my profits into the other accounts and in cold storage.

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