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The statements are kind of true if treat funds as the UST in your account. While the UST has remained safe, the value of UST hasn't.



“No honey, I did not lose the house in a poker game. I know exactly where it is, the only difference is that Bob owns it now”.

The statement is kind of true if you want to be very disingenuous to what people actually care about.

Also, As far as I know, no one deposited UST with stablegains. Stablegains took funds in other formats and converted it themselves.




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