
Most of the KYC friction you experience when buying crypto has nothing to do with compliance. @AlexKFine says it's poorly built risk models and there are better ways to manage the underlying risk without making the user experience painful. 99%+ of Fun's volume is fiat to stablecoin. Users go to Lighter or Polymarket and deposit without knowing Fun exists. The business model is Costco: consolidate all the fragmented payment stacks, compress the vendors, offer rates nobody else can, take margin at scale.




















