KAST Updates Deposit Terms After Ether.fi CEO Criticizes Clause Following $80 Million Series A

KAST revised its terms after facing public criticism over language that treated user crypto deposits as sales to the company following its $80 million Series A. According to NS3.AI, ether.fi CEO Mike Silagadze highlighted the clause and raised concerns about how deposits were characterized. KAST later updated the provision to say users can redeem unspent balances at any time, subject to checks, minimum limits, and fees. The dispute also followed emails indicating that rewards points would convert into tokenized equity rather than a token.