I’m aware these types of stablecoin-backed high-APY “savings” accounts are not FDIC-insured. Beyond that, I’m wondering if there is really anything preventing one of these companies from riding off into the sunset with everyone’s balances. Thoughts?
**Edit:** Does anyone have any real-world examples of this happening, either maliciously, or by genuine collapse of one of these companies? I am wondering how much real world basis there is for all these potential risks.