Technology

59569 readers

3825 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

177

'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis (www.cnbc.com)

submitted 15 hours ago by shoulderoforion@fedia.io to c/technology@lemmy.world

35 comments fedilink hide all child comments

CNBC spoke to a dozen customers caught in the Synapse fintech predicament, people who are owed sums ranging from $7,000 to well over $200,000.

you are viewing a single comment's thread
view the rest of the comments

[–] Iheardyoubutsowhat@lemmy.world 36 points 13 hours ago* (last edited 13 hours ago) (1 children)

There was no interest on Yotta accounts. Originally, when you signed up, you were given a lottery ticket everyday for every 25$ in the account. There was a lottery everyday where you could win up to 25000. Then they switched to games where you essentially gambled with the tickets that were given based on your amount.

I was once a member but pulled the money when interest rates started to rise. I was lucky.

I'll also note, when signing up, I was given the impression this FDIC insured.

[–] jagged_circle@feddit.nl 1 points 46 minutes ago

Why did you think they were FDIC insured?