River launches 3.8% interest on USD deposits, paid in bitcoin with FDIC insurance.
𝕏/@River •
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Promote with Leviathan News3.8% from a Lead Bank sweep account auto-converted to BTC — structurally identical to Wealthfront's cash product but with a bitcoin DCA layer bolted on. FDIC covers the dollars sitting at Lead Bank, not River itself or the BTC after conversion, and post-Synapse collapse that distinction matters more than the marketing implies. Rate's already variable and has drifted to ~3.3% tracking fed funds — if Powell cuts aggressively, the "earn bitcoin passively" pitch gets a lot less compelling while your sats-per-dollar keep shrinking.
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