I may have oversold here. But 4% APY risk-free is a problem, and the SEC knows it. Lend theoretically enables customers to earn 4% APY on their cash (USDC), risk-free, simply by parking money in their Coinbase account. From a user experience perspective, there’s little difference between holding your money with Coinbase Lend and holding it in a savings account. However, 4% APY is exponentially higher than your typical savings account rate, which means there’s a significant incentive to move m...

I may have oversold here. But 4% APY risk-free is a problem, and the SEC knows it. Lend theoretically enables customers to earn 4% APY on their cash (USDC), risk-free, simply by parking money in their Coinbase account. From a user experience perspective, there’s little difference between holding your money with Coinbase Lend and holding it in a savings account. However, 4% APY is exponentially higher than your typical savings account rate, which means there’s a significant incentive to move m...