I think it might be a little like the "zero percent interest" thing that credit cards offer you on transferring balances. They want the assets under management so they offer you a high rate to begin with, and then they cut it down once they have you in. They count on people being lazy and still leery of "moving" things around. I know I hate having any of my assets "in transition". If they're in a place and the rate goes down but is still paying, I'll probably just keep it there.

The other possibility, and certainly a darker one, is that they've been lending out their customers assets to big banks trying to manipulate the prices and are finding out these banks have unlimited cash to keep shorting things but no actual tokens to pay them back. There could be some sort of "if we go down we take you with us" type of thing going on behind the scenes. Definitely bears watching...

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