I've seen a few articles on the Yotta/Synapse situation that focus on the people that have lost money while completely ignoring any of the prize-linked type of setup. The people are quoted as being told it was FDIC insured, it was a normal bank, etc. Then the articles describing the prize drawings started to surface.
Was the prize-linked stuff part of the fine text or are people twisting the story as an attempt to lessen their shame? I don't trust any of the fintech apps at all, but I've never looked at any of their sites to see how blatant or how hidden their "oh yeah, we're not a real bank" details are.
Was the prize-linked stuff part of the fine text or are people twisting the story as an attempt to lessen their shame? I don't trust any of the fintech apps at all, but I've never looked at any of their sites to see how blatant or how hidden their "oh yeah, we're not a real bank" details are.