KEY POINTS
- Thousands of Americans will receive little or nothing from savings accounts that were locked during the collapse of fintech middleman Synapse.
- Customers believed the accounts were backed by the full faith and credit of the U.S. government.
- CNBC spoke to a dozen customers caught in the predicament, people who have lost sums ranging from $7,000 to well over $200,000.
- While there’s not yet a full tally of those left shortchanged, at fintech Yotta alone, 13,725 customers say they are being offered a combined $11.8 million despite putting in $64.9 million in deposits.
I remember this. Stupid haha. Makes me think about the pharma bro who bought the Wu Tang record
Yeah, both were really spending other people’s money that they got through fraud and such.
Some people say there is no way to be an ethical billionaire
I think it’s fair to say if there is a way, it’s a corner case. Like maybe one of Elon’s many kids turns out okay and ends up inheriting a few billion.
Unlike the saturday morning cartoons from when I grew up… evil pays.