The law firm with a class action lawsuit sent a letter to the Stablegains revenue-generating project, demanding to record customer accounts, marketing and advertising strategies, and communications related to the Terra stablecoin. Web3 is Going Great: […] Unfortunately for their customers, it turned out that Stablegains had a significant investment in the Terra Anchor project protocol, which collapsed along with the rest of the Terra ecosystem last week. The Stablegains website stated that they mainly generate profits through the USDC-supplied stablecoin. However, after the crash Terra Stablegains admitted that “all user assets are in UST”, which lost more than 90% of its value. Stablegains was part of Y Combinator’s W22 package and received more than $ 3 million in funding from several venture capital companies, including SNO Ventures, Moonfire and Goodwater Capital.

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