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.
  • brossman@infosec.pubEnglish
    11·
    4 days ago

    not a huge sum, but I had $10k in it, because it was a fun bullshit app that scratched the lottery itch despite it earning less than regular interest over my time with it

    • venusaur@lemmy.world
      92·
      4 days ago

      What was the lottery aspect? Damn $10k to just play with. That’s a different kind of life.

      • Modern_medicine_isnt@lemmy.world
        42·
        4 days 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.

          • Modern_medicine_isnt@lemmy.world
            2·
            3 days 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.

              • Modern_medicine_isnt@lemmy.world
                2·
                3 days 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.