Sources: Palmer Luckey-backed Erebor Bank ended its free stablecoin-to-cash redemption offer after trading firms like Wintermute exploited it for arbitrage
THE SO WHAT
Erebor’s free stablecoin-to-cash redemptions getting arbitraged by trading firms is a reminder that any mispriced bridge between crypto and fiat will be farmed until it breaks. Fintech and web3 operators need to model adversarial, high-frequency behavior on day one — not after the promo budget is gone.
READ THE SOURCE
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