but they also did that with their customers' fiat deposits which went through the traditional regulated finance network. Does that mean the point of fiat is to

but they also did that with their customers' fiat deposits which went through the traditional regulated finance network. Does that mean the point of fiat is to elude regulation too? Whatever regulations there are on fiat apparently didn't stop them from defrauding their customer's fiat. AFAIK straight up stealing customer's deposits in a way the contract specifically says you will not, whether in USD or UnicornBucks, is some form of theft/fraud/embezzlement and already illegal.