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'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis (www.cnbc.com)

submitted 1 month ago by shoulderoforion@fedia.io to c/technology@lemmy.world

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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.

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[–] MyOpinion@lemm.ee 9 points 1 month ago (1 children)

I am from the US and I have no idea what they are talking about here.

[–] ryathal@sh.itjust.works 2 points 1 month ago (1 children)

Me either, it sounds like it was a gambling site that encouraged large deposits and offered some sort of benefits for doing so. This seems extremely unethical, and should probably have been illegal based on gambling or banking rules.

[–] QuadratureSurfer@lemmy.world 2 points 1 month ago

Apparently they weren't always a gambling site in the way that you see today, they switched over to this sometime in the last 2 years: https://www.youtube.com/watch?v=bBUkajbg688&t=119s