This newsletter is sponsored by Bitget! Bitget is the best crypto exchange for both spot and leverage, world’s largest crypto copy trading platform, and the official partner of Juventus Football Club. They are offering my subscribers up to a $3000 bonus for signing up. You can find out more by clicking here!They are also offering 100 BGB to any Wolf Den reader who makes a minimum $1000 deposit + opens their first trade on Bitget… until April 30th.There is a war on earning interest in the United States.The SEC is putting a chokehold on interest-bearing platforms in the crypto space.Celsius is one of the most popular crypto interest platforms and, thanks to regulators, its guidelines are about to undergo a massive change.New users that wish to earn interest after April 15th will have to be accredited investors.Pre-existing users are essentially grandfathered in regardless of whether they are accredited or not. If you have been collecting interest, you can keep collecting interest, at least for now. As for newcomers and new deposits, the rules are changing this Friday.These are the current laws to be an accredited investor:A person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years with the expectation of earning the same or a higher income in the current year.orA person must have a net worth exceeding $1 million, either individually or jointly with their spouse.There are additional ways to become accredited, but these are the main two.Taking away interest makes it that much harder to achieve this status in the first place.The rich will continue to get richer, while everyone suffers a different fate, barred from the same opportunities because of their financial standing.Here are the new rules - they arespecific to U.S. users.All coins transferred to Celsius by users in the United States prior to April 15, 2022, will continue to earn rewards. Those existing coins will continue to earn rewards for as long as they remain in their Earn accounts.On April 15, 2022, Celsius will be launching a new Custody solution for users in the United States.New transfers made by non-accredited investors in the United States will be held in their new Custody accounts and will not earn rewards.Verified accredited investors in the United States will be able to add new coins into their Earn accounts, where they will continue to earn rewards.This move likely sets a precedent for other companies in the industry. If you have been considering using an interest bearing product, then you have a decision to make - move coins in now, or evacuate altogether.In This Issue:The War On InterestWhat’s Next For Bitcoin? IntoTheBlockBitcoin Thoughts And AnalysisElon Musk Wants TwitterEthereum 2.0 Makes Quiet ProgressMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #477 - The War On Interest
The Wolf Den #477 - The War On Interest
The Wolf Den #477 - The War On Interest
This newsletter is sponsored by Bitget! Bitget is the best crypto exchange for both spot and leverage, world’s largest crypto copy trading platform, and the official partner of Juventus Football Club. They are offering my subscribers up to a $3000 bonus for signing up. You can find out more by clicking here!They are also offering 100 BGB to any Wolf Den reader who makes a minimum $1000 deposit + opens their first trade on Bitget… until April 30th.There is a war on earning interest in the United States.The SEC is putting a chokehold on interest-bearing platforms in the crypto space.Celsius is one of the most popular crypto interest platforms and, thanks to regulators, its guidelines are about to undergo a massive change.New users that wish to earn interest after April 15th will have to be accredited investors.Pre-existing users are essentially grandfathered in regardless of whether they are accredited or not. If you have been collecting interest, you can keep collecting interest, at least for now. As for newcomers and new deposits, the rules are changing this Friday.These are the current laws to be an accredited investor:A person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years with the expectation of earning the same or a higher income in the current year.orA person must have a net worth exceeding $1 million, either individually or jointly with their spouse.There are additional ways to become accredited, but these are the main two.Taking away interest makes it that much harder to achieve this status in the first place.The rich will continue to get richer, while everyone suffers a different fate, barred from the same opportunities because of their financial standing.Here are the new rules - they arespecific to U.S. users.All coins transferred to Celsius by users in the United States prior to April 15, 2022, will continue to earn rewards. Those existing coins will continue to earn rewards for as long as they remain in their Earn accounts.On April 15, 2022, Celsius will be launching a new Custody solution for users in the United States.New transfers made by non-accredited investors in the United States will be held in their new Custody accounts and will not earn rewards.Verified accredited investors in the United States will be able to add new coins into their Earn accounts, where they will continue to earn rewards.This move likely sets a precedent for other companies in the industry. If you have been considering using an interest bearing product, then you have a decision to make - move coins in now, or evacuate altogether.In This Issue:The War On InterestWhat’s Next For Bitcoin? IntoTheBlockBitcoin Thoughts And AnalysisElon Musk Wants TwitterEthereum 2.0 Makes Quiet ProgressMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO