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 …