Eco Said It Was Lending To Fidelity & Goldman. Really, User Funds Went To Risky Crypto Lenders & DeFi Protocols.

a16z- and Thiel-Backed Startup's Future Uncertain As It Loses Bank Partner, Pays User Interest With Own Funds

Hey all, Jason here.

Programming note: there will be no newsletter next week; this week’s newsletter is coming to you from Oaxaca, México (yes, again), and I’m nominally on vacation. After my time here, I’m making a pit stop in Guadalajara, before heading to Chicago and then Las Vegas later this month, for Fintech Meetup. Hope to see you there!

If you’re …