'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis
Iheardyoubutsowhat @ Iheardyoubutsowhat @lemmy.world Posts 0Comments 14Joined 2 yr. ago
Iheardyoubutsowhat @ Iheardyoubutsowhat @lemmy.world
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Because they said they were, or implied it. I would not have opened a savings account had they not been.
In theory, these people's money isn't gone, it's just misplaced into other banks if I understand correctly...and none of these entities want to pay for a full audit because of cost and probably, liability.
The banks that actually hold the money are FDIC insured, but Yotta is not it seems. The way it's worded it makes it look like Yotta is.