Fidelity FPL program dangling 36% APR carrot

If you hold FBTC or an equivalent spot ETF in a tax-advantaged account, would you consider lending your shares to your broker?

Is this a great way to make extra income? Or is it enabling price manipulation by short sellers and margin users?

36% is extremely enticing. But many crypto exchanges have gotten out over their skis by offering less.

Is there any way to predict how many retail investors will engage with this offer, and what the effects might be?

Fidelity Fully Paid Lending Program