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[return to "YC W22 Stablegains is being sued for losing $42M in funds from 4878 customers"]
1. gzer0+8t[view] [source] 2022-05-19 11:16:32
>>donsup+(OP)
Quick comparison between archive.org March 27th snapshot

27 March 2022 > There are no lock-up periods. Withdraw your funds any time and keep the interest you earned.

18 May 2022 > There are no long-term lock-up periods.

These guys are going under.

[1] https://web.archive.org/web/20220308041252/https://www.stabl...

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2. bhoust+8L[view] [source] 2022-05-19 13:10:15
>>gzer0+8t
They didn't plan for a black swam. I think that they only kept so much money around to do redemptions (fractional reserve) assuming that there wouldn't be a run on the bank. But then when a run on the bank happened, they were screwed as they had been locking up the funds.
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