The Interchange: Credit is a feature, not a bug

I'll admit I did not foresee the pushback that crypto lender BlockFi would receive this week surrounding its announcement of a new interest-bearing account that pays 6.2% of Bitcoin and Ether deposits. Then again, I forget we're playing a two-sided education battle in not only reaching and bringing new users up to speed, but also as an industry relearning everything financiers have spent the last century discovering, or as as Matt Levine likes to say, "re-learning the lessons of financial history in a sped-up way." 

Sure, I guess in hindsight I get it. It's worth being skeptical in this space. Speculators have been burned left and right by the Bitconnects of the world. Banks are evil, and if something appears too good to be true, it's probably because it is. Given the recent Robinhood checking/savings blunder, I wouldn't be surprised if the false marketing of that product has had a residual effect on all the armchair lawyers sharing BlockFi's fine print across CT.