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.
  • venusaur@lemmy.world
    111·
    4 hours ago

    This sucks big time. Real question, what motivated people to put huge sums of money into a startup company? Some deal on a loan?

    • brossman@infosec.pubEnglish
      2·
      2 hours 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