ether.fi CEO Questions KAST's Terms on User Asset Ownership

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According to PANews, ether.fi CEO Mike Silagadze questioned KAST's service terms today (July 7) regarding user asset ownership. The stablecoin payment and crypto card platform's terms state that when users transfer cryptocurrency or stablecoins to KAST, they are considered to have sold the assets to KAST and no longer retain ownership. The app displays only dollar-denominated ledger records, not account balances or deposit values.

KAST also emphasizes it is not a bank and user funds are not covered by deposit insurance protection.

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