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.

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.
  • @Modern_medicine_isnt
    2•2 months ago

    Isn’t $10k like one months mortgage on a house in the bay area? And just swing by vegas… plenty of people spending that kind of money. It may seem like a different kind of life, but often it is just a different location. They often live a lot like the rest of us… thier emergency fund might last 2 months instead of one, but they are still pretty close to broke if they lose thier job. When someone starts dropping $100k… that is a different life.

    • @venusaur
      5•2 months ago

      Damn I guess I’m broke then. Thought I was doing alright.

      • @Modern_medicine_isnt
        2•2 months ago

        Yeah, the number of people who area few missed paychecks or less away from being broke according to articles I have read is alarmingly high. Even tons of people earning 6 figures. Housing and food are such a high percentage of peoples expenses these days.

        • @venusaur
          2•2 months ago

          6 figures is getting by these days

          • @Modern_medicine_isnt
            2•2 months ago

            Yeah, like in new york city you can’t afford a house on a low six figure income. But in mississippi you can buy a masion. The discrepancy is insane. I guess I am lucky because I don’t like big cities and can work remote.

        • @venusaur
          2•1 month ago

          I remember this. Stupid haha. Makes me think about the pharma bro who bought the Wu Tang record

          • @Modern_medicine_isnt
            1•1 month ago

            Yeah, both were really spending other people’s money that they got through fraud and such.

            • @venusaur
              2•1 month ago

              Some people say there is no way to be an ethical billionaire

              • @Modern_medicine_isnt
                1•1 month ago

                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.