The Information:

Sources: Palmer Luckey-backed Erebor Bank ended its free stablecoin-to-cash redemption offer after trading firms like Wintermute exploited it for arbitrage  —  When Palmer Luckey's Erebor Bank launched earlier this year, it made an attractive pitch to lure new crypto customers: It would convert their stablecoins to cash for free.

The Information:

Sources: Palmer Luckey-backed Erebor Bank ended its free stablecoin-to-cash redemption offer after trading firms like Wintermute exploited it for arbitrage  —  When Palmer Luckey's Erebor Bank launched earlier this year, it made an attractive pitch to lure new crypto customers: It would convert their stablecoins to cash for free.

Source: TechMeme
Source Link: https://www.techmeme.com/260915/p36#a260915p36