Move fast and break things or Bait and Switch or Just lie, because who cares

Is this typical of startups that are funded by "insiders"?

I'm not sure what "true" means in your statement. But assuming it's about getting 3% interest on your deposit. Would it also be ok if the company went under and you lose all your money because they weren't insured? is that risk worth the 3%? Maybe or maybe not. But I'm gonna assume you'd like to know there is a risk before you deposited any cash in that account.