Jason “Parabolic” Williams, general partner at Morgan Creek Digital and founder of FastMed Urgent Care, recently revealed that he has made over $200,000 in interest alone after depositing $2.5 million in Gemini USD (a “scalable” stablecoin that has 1:1 “transferability” with the US dollar) on BlockFi.
BlockFi helps digital asset investors manage their funds while earning crypto by offering interest accounts, trading, and digital currency backed loans.
Williams recently noted:
“I had a huge position in GUSD and I put it all in BlockFi as a test so I did that over a year ago. I took, as a test, $2.5 million in a money market in a bank and then I took $2.5 million cash and bought GUSD, and put it on BlockFi.”
“I just held it there and the proof is in the interest…minus fees, minus [all other transaction costs,] I got $5,000 in interest from my money market. I think they were paying me 0.20%. I was getting 8.6% APY on GUSD, so I made $215,000 in GUSD cash via BlockFi.”
“It’s a no brainer.”
Williams is an angel investor at Duke Angel Network, RTP Capital Associates, Undercover Colors, and several other organizations. He’s also an advisor to Innovations in Healthcare at the Duke University School of Medicine.
BlockFi recently appointed Adam Healy as its new Chief Security Officer, which is only a month