CandleFocus Beware the Bitcoin Yield and BTCfi Larps: A Veteran’s Cautionary Tale
2025-02-18
Author: Content Editor
The author of the article warns against the risks of centralized platforms in the cryptocurrency space and highlights the failures of platforms like BlockFi, Celsius, and FTX. They argue that entrusting funds to these platforms can result in total loss. The article also discusses the trend of "Bitcoin DeFi" or "BTCfi" projects that claim to be decentralized but actually have centralized operations. One specific platform, SolvBTC, is mentioned as an example. The author advises readers to carefully evaluate Bitcoin yield and BTCfi projects before committing funds and suggests using independent resources like bitcoinlayers.org for guidance. They emphasize the importance of prioritizing security, liquidity, and self-custody in the cryptocurrency space.
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