The Defiant reported that KAST, a stablecoin payment provider, has been embroiled in controversy over its terms of service. Recently, Mike Silagadze, CEO of DeFi protocol Ether.fi (ETHFI), strongly criticized KAST, pointing out that KAST's terms of service state that ownership of cryptocurrencies deposited by users is transferred to the company. KAST later added a clause to its terms stating that unused balances can be redeemed at any time. However, the structure where ownership of deposited assets is transferred to the company remains. The media added, "This controversy is spreading as it coincides with user backlash against KAST's decision to convert existing points into equity-linked products rather than tokens."
