2024-11-24
This was sad to read. I did not realize so many people don't trust banks & put money into fintech companies. These companies aren't insured & don't follow laws. ‘I have no money’: Thousands of Americans see their savings vanish in Synapse fintech crisis https://www.cnbc.com/...
CNBC
Customers of banking startups like Yotta describe losing savings ranging from $7,000 to $200,000+ due to Synapse's collapse, after US regulators refused to help
Customers believed the accounts were backed by the full faith and credit of the U.S. government. … Augie Ray / @augieray@mastodon.social : For fifteen years, I've heard how traditi...