zlacker

>>mkeete+(OP)
Written as if no mistakes were made on their end. Paraphrasing:

"We all thought UST and Anchor were a source of stable >10%/yr gains that you could trust for your corporate treasury. That the yield instead turned out to be -99% is quite disappointing, and makes this a natural time for us to bring our service to an end. It's been a pleasure to serve you."

>>Liron+Ja
Even serious crypto people knew that UST was highly unstable lol

How did these guys raise funding? They literally just built a fiat onramp

>>puranj+Ef
> How did these guys raise funding?

either the investors didn’t do enough research or they were on it

https://davidgerard.co.uk/blockchain/2022/04/11/web3-a-vc-fu...

>>ushako+di
This article is spot on to what I saw in the VC space (I won’t name where). Tons of little copycat crypto “companies” taking VC money for tokens which were collateralized with BTC. I know this article is going after a16z but it’s not just them, it was pretty much everyone.