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.
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.
Risky investment turns out to be risky. No one could have seen that coming.
This isn’t about shareholders being wiped out. It’s about account holders of what they thought were bank accounts losing everything because their accounts were powered on the back end by a company they’d never heard of or directly dealt with.
Scam bank sounded like a scam to begin with.
Yeah, it’s almost weird that it’s news.
Imagine if they made news after a big fight about people who gambled and lost.
Imo the bigger news is the financial illiteracy of the average person.
If you see this as investment, then consider that investors were lied to (the startups claimed to have FDIC coverage) and didn’t have accurate information to assess the risk.
Synapse lied to the fintechs, too.