ShapeShift CEO and Founder Eric Voorhees recently raised concerns about the decentralized finance (DeFi) arena by pointing out the extraordinary returns being generated by stablecoins such as Tether (USDT) and (USDC) on platforms like Compound. This statement comes amid the latest update on SEC and ShapeShift fiasco that witnessed the latter paying a fine.
ShapeShift CEO Highlights Exorbitant USDT & USDC Returns On Compound
The ShapeShift CEO highlighted that stablecoins like USDT and USDC have attracted about 20% to 30% returns from collateral loans on Compound. In a tweet, Voorhees remarked, “Trustworthy stablecoins (USDT, USDC, etc) across defi are earning 20-30% right now on trustworthy platforms (Compound, etc), where they’re being lent out with overcollateralized loans.”
While these returns may appear lucrative on the surface, Voorhees expressed surprise at the unprecedented rates and raised questions about the underlying dynamics driving them. Moreover, he speculated t
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