StakeCube Falling

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  • January 20, 2023 at 8:56 pm #3264
    Alex Haesche
    Participant

    StakeCube, mentioned in the newsletters in relation to syscoin, has “temporarily halt[ed] deposits, trading, and withdrawals with immediate effect.” [1]

    There is a way to get funds from the platform [2], but it kind of reminds me about the Mt Gox situation, where people can buy claims on the BTC that was on that exchange. Maybe we’ll have another one of those in a few years, with SCBTC becoming redeemable for BTC.

    [1] https://stakecube.info/important-announcement/
    [2] https://stakecube.info/refund-program-poll/

    January 25, 2023 at 1:26 am #3267
    tccadmin
    Keymaster

    Damn. I remember experimenting with some staking there a couple years back, thought they did a good job on the interface etc.

    The deficit ratio of assets vs. liabilities is high, with BTC and DOGE at 95%, LTC at 60%, and DASH at 10%. Most of the other coins are fully backed, actually overcollateralized.

    WTF. More players re-discovering fractionally reserved “bitcoin” in the digital era.

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