Crypto Is Still the Wild West

The basis trade is just one of the things that blockfi does in order to pay out seemingly too good to be true rates. Rates are based on how much blackfi can generate by lenting each type of asced out, which is based purely on supply ang demand. There's still a massive gap between what people want to borrow to buy crypto and what they're able to borrow. It will take some time for the basis trade to get arbitrage away. And crypto is still the wild west. New opportunities are popping up all the time that a crypto natve financial institution like blockfi is better equipped to understand and move quickly on than traditional ones.