PhilipTheBucket@ponder.cat to Business@lemmy.worldEnglish · 1 month ago'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisiswww.cnbc.comexternal-linkmessage-square16fedilinkarrow-up133arrow-down10cross-posted to: news@lemmy.worldusa@lemmy.mltechnology@lemmy.worldeconomy@lemmy.world
arrow-up133arrow-down1external-link'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisiswww.cnbc.comPhilipTheBucket@ponder.cat to Business@lemmy.worldEnglish · 1 month agomessage-square16fedilinkcross-posted to: news@lemmy.worldusa@lemmy.mltechnology@lemmy.worldeconomy@lemmy.world
minus-squarerc__buggy@sh.itjust.workslinkfedilinkEnglisharrow-up9·1 month agocredulity. Here in the US we are well insulated from financial scammers, with the exception of fintech. When the average consumer sees FDIC they assume they are covered. Insane that $50m has evaporated. Fintech bros are the worst.
minus-squareAwkwardLookMonkeyPuppet@lemmy.worldlinkfedilinkEnglisharrow-up2·1 month agoWait, they advertised as FDIC insured and weren’t?
minus-squarerc__buggy@sh.itjust.workslinkfedilinkEnglisharrow-up2·1 month agoYeah. Said the money was in FDIC banks. Maybe it was, for a minute.
minus-squareAwkwardLookMonkeyPuppet@lemmy.worldlinkfedilinkEnglisharrow-up2·1 month agoOkay, that’s a crime. Someone better go to prison.
minus-squarefarcaster@lemmy.worldlinkfedilinkEnglisharrow-up2·1 month agoThey stole from the non-wealthy. Slap on the wrist, if anything.
minus-squareAwkwardLookMonkeyPuppet@lemmy.worldlinkfedilinkEnglisharrow-up2·1 month agoSad but true. Queue Metallica solo.
minus-squareAwkwardLookMonkeyPuppet@lemmy.worldlinkfedilinkEnglisharrow-up2·1 month agoDon’t tread on me!
credulity. Here in the US we are well insulated from financial scammers, with the exception of fintech. When the average consumer sees FDIC they assume they are covered. Insane that $50m has evaporated. Fintech bros are the worst.
Wait, they advertised as FDIC insured and weren’t?
Yeah. Said the money was in FDIC banks. Maybe it was, for a minute.
Okay, that’s a crime. Someone better go to prison.
They stole from the non-wealthy. Slap on the wrist, if anything.
Sad but true. Queue Metallica solo.
… And Justice For All
Don’t tread on me!