etc are also fake. Those VCs and Jeremias have never heard of Whaleclub before.
I know these guys personally. While of course their service has a risk, the business is legit. I have been using their service for some time for modest amounts.
Basically they lend the btc and other platforms like bitfinex in an automated way. This means counter-party risk, which is rewarded with the interest.
- Jeremias