Why 10%+ Yields are common in Crypto

Nearly every day, companies such as Crypto.com, Blockfi, Voyager, Nexo, Gemini etc. are offering savings interest rates often as high as 12% on crypto assets. In a world where average savings account yields 0.05% and is only going to zero over time, this is becoming a key lever for crypto companies to attract millions of users chasing yield. What is le…