119% Per Week UPDATE: The Math is Dead Wrong!

When is 119% really 19%? When you run a DeFi site and you don’t understand basic, financial math.

That’s the underlying flaw with BNBmatrix, the site I’ve been testing for the last seven days.

Their pitch is this: Deposit Binance coin ($BNB) and earn 17% per day, 119% per week. (You can make deposits for any term between 7 and 30 days.)

To me (who spent 17 years as a financial writer at The Wall Street Journal, and was a hedge fund trader/analyst) and to anyone else who understands basic, financial…