China’s banking-crisis victims promised money, but outcry as ‘it doesn’t solve underlying problem’

by Boo_Randy No shit it doesn’t solve the underlying problem – the banking systems is insolvent. Got silver? https://www.scmp.com/economy/china-economy/article/3184968/chinas-banking-crisis-victims-promised-prompt-repayment-only Chinese authorities will start repaying some victims of one of the nation’s biggest ever financial scandals later this week after hundreds …

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The VC-funded app “Stablegains” is being sued for losing $42 million from 4,878 customers. They promised 15% APY and achieved this by putting all of their customers’ funds into the 20% APY Anchor Ponzi as UST.

by POTATO_IN_MY_LOGIC These guys are in deep trouble – they lost about $42m in funds from 4,878 customers and probably have no way to pay it back (they're a small startup) because they went all in on Anchor's invincibility. Conviction bets …

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