The “KuCoin Earn” deposit interest rate on the current platform has reportedly risen, with annualized interest rates of 229% for ETH, 305% for BTC, and 100% for USDT, according to the official website of the cryptocurrency trading platform KuCoin.
Since the FTX crash, numerous platforms with the claim of offering high-interest deposits have closed down one after another, which is curious while cryptocurrency bears continue to slump. Where did the interest rate get so high?
Some investors are using high-interest rates to entice user deposits because they think KuCoin is experiencing a liquidity issue. Many Twitter users advocate for quickly withdrawing deposits. KuCoin representatives, meanwhile, have not responded to any comment.
Source: https://coinpedia.org/crypto-live-news/kucoins-increasing-apy-is-this-a-glitch-or-an-indication-of-something-worst/