youtubers get called out in bank disaster
Added 2024-08-16 17:51:17 +0000 UTCI got sent court documents where YouTubers were called about by name by victims of a banking disaster, featuring YOTTA / Evolve / Synapse.
It’s a reminder that once again, we should not have influencers promoting financial products. It’s also a heartbreaking story that needs more light shed on it to hopefully expedite what has been such a horrific process for the victims.
Comments
FDIC insurance is a fund. If there is a banking license somewhere, they can claim it. What’s probably happening is fraud. The tax payer should not pay for fraud.
Fernanda Alario
2024-08-20 10:54:55 +0000 UTCthe zilla strikes again
James Jones
2024-08-19 21:36:07 +0000 UTCWas this video unlisted?
Jessica Jeffery
2024-08-19 20:44:46 +0000 UTCWoohoo! Love the pettiness, keep it coming!
LykeItorNot
2024-08-19 20:13:01 +0000 UTCCoffeezilla is the most feared man in crypto.
Tim Davis
2024-08-19 03:59:57 +0000 UTCGood callout about not listening to youtube influencers for financial advice. Now I only listen to Larry David and Jim Cramer.
Snapcase
2024-08-18 20:26:33 +0000 UTCHave you heard about Revolut? It seems that they have too much money for comertials.
Justyna Sto
2024-08-17 13:18:09 +0000 UTCThe crazy thing is that if you didn't continually deposit into Yotta, they would fine your account for no money flow. I feel terrible for those who lost. I'm just glad I pulled out my money after they swapped to gambling your tickets. I did not like that a person could lose tickets and win nothing. Straight fucking gambling. Before, you only lost tickets if they won. Then it switch to stacking them on 2x, 5x, 10x. Win, then win big. Lose, then lose all stacked tickets.
Letcha B
2024-08-17 09:26:48 +0000 UTCWhat 'archaic law'? The one that says you can't lie about being FDIC insured?
DTM
2024-08-17 08:51:19 +0000 UTCI know why, if you made such a bad call as a finance youtuber, what's the point of your advice in general, especially if you self-report on it to your audience.
Armīns Blūms
2024-08-17 08:02:15 +0000 UTCYoo, what is up Logang is what comes to my mind.
Armīns Blūms
2024-08-17 07:56:51 +0000 UTCthat's odd behavior
StreetsAhead
2024-08-17 07:12:44 +0000 UTCNailed it!
James Jones
2024-08-17 05:51:24 +0000 UTCSTOP WITH THE WEIRD !!
Stephen Mortimer
2024-08-17 02:28:32 +0000 UTCYour argument is a legal argument. The opinion CZ presented was based on morals throughout the video. Archaic law is not an excuse for immoral conduct. Pitching both produce the same harm so… yeah.
Toledo Terps
2024-08-16 22:26:55 +0000 UTCFDIC stands for Federal Deposit Insurance Corporation- It is reserved for only the most secure investments- Pretending you are FDIC Insured is the most blatant and easily exposed lie ever. Those people need to be locked up forever.
IzzyDeadYet
2024-08-16 22:26:25 +0000 UTCits actually very different- Financial Instruments aren't supposed to be sold by people who aren't registered and licensed- The regulations for all these jokers haven't caught up yet, but they will- You would be amazed at how many slimy penny stock brokers just moved into this and repackaged the same crap.
IzzyDeadYet
2024-08-16 22:24:19 +0000 UTCI was a stockbroker back in the 90s- Worked with a bunch of guys who had previously worked with Jordan Belfort selling penny stocks- All this stuff is just the new age of penny stocks.. All these scams are the exact same scams people were doing on the pink sheets in 1992- There is nothing new and innovative about these scammers- the tools have changed but the grift is exactly the same
IzzyDeadYet
2024-08-16 22:22:09 +0000 UTCYou *obviously* are ignorant and that’s understandable. It’s just as complicated to understand as our modern financial systems. I still disagree with CZ in that shilling something that handles any personal / private data is acceptable without accountability. It should be viewed and treated the same as it should be with anything financial. It doesn’t detract from the issue. It simply disagrees with his opinion. If you don’t like that, that’s fine, you cool yourself ✌️
Toledo Terps
2024-08-16 21:38:26 +0000 UTCFrom Wikipedia: "Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator". That is part of the problem. Leads to regulator jurisdictional paralysis.
DTM
2024-08-16 21:26:24 +0000 UTCCool it with the whataboutism. Promoting a fintech pretending to be an FDIC insured bank is obviously more harmful than promoting a paid VPN. Paid VPNs don't 'mine data' by the way. How could they? Most connections are already SSL secured by now. Some paid VPNs do keep data safer as well by integrated ad blocking etc. Free VPNs, like the one Facebook used to offer, are obviously a different animal and often a scam.
DTM
2024-08-16 21:21:59 +0000 UTCBecause it wouldn't just be people who lost money. People bashing Mr Beast aren't all people who got scammed. I think you're missing my point which is no one person who promoted it is going to post about it as it would bring down ALL the focus of fury on them. Now this is of course benefit of the doubt. They also may not be posting about it because there's no guilt with scammers.
Mike Gervasi
2024-08-16 21:08:08 +0000 UTCWhy quote "victims"? That's what they are. Also, how much of an asshole do you have to be to refuse to apologize for advertising something that ruined people's lives just because you're worried some of them might be mad at you about it? If doing the right thing was the easy path, Coffeezilla would be out of a job.
Branden Lange
2024-08-16 20:53:52 +0000 UTCCoffee out here putting work
KnockKnockitstheKGB
2024-08-16 20:29:06 +0000 UTCWhy would VPN be different? I see it the same as this. People being sold products claimed to keep their lives secure. Someone selling it should have some sort of background in it. How is having your money locked away when you’re told it’s safe any different from having your live packets claims to be locked away when you’re really being mined for data? Or heck, even Kevin hart shilling credit cards. There needs to be freedom to pitch what you want, but accountability of the pitch itself. Banking shouldn’t be treated like it’s special. Hold everything to that same standard. It makes no sense not to.
Toledo Terps
2024-08-16 19:25:43 +0000 UTCWas there some sort of fine print about FDIC coverage that said "We don't cover defamation"? ;)
Mike Gervasi
2024-08-16 19:04:17 +0000 UTCI vaguely remember Yotta. I have no skin in the game. However would you want to potentially be the only person to publicly speak about it? "Victims" would immediately jump on you whether they got involved because of you or not. "You're addressing the issue and listening? Then I'm gonna unload my anger on you".
Mike Gervasi
2024-08-16 19:00:22 +0000 UTCwohooo, new video of my favourite youtuber :)
Da Kindsé
2024-08-16 18:35:46 +0000 UTCGood for you for holding Influencers and YouTubers accountable to their audiences. Knowing what we know now about YOTTA, these folks should be apologising to their audiences for leading them astray.
Jake Zukowski
2024-08-16 18:26:42 +0000 UTCI’d love to hear about your ideas for changing government’s role/functioning to stop scams and these kind of messes from happening in the first place… and when they do happen how can they respond faster. The scam scourge are spreading far faster than they are being addressed
BagelRun
2024-08-16 18:22:38 +0000 UTCCoffee, I was wondering if you could cover the recent decision of fraud charges being dropped or dismissed for the Finfluencers that were charged by the SEC. You covered it before and I think Patrick Boyle covered the court decision some weeks ago. It's wild to me that the judge believed that because they basically were obvious in the scheme, that it somehow means they never misrepresented what they were doing. I know that's a oversimplification but I loved your take on this.
Ada MC
2024-08-16 18:22:21 +0000 UTCWhen coffee starts a video saying he will be petty it's gonna be a good video.
Hans Goss
2024-08-16 17:58:09 +0000 UTCHEYYYY!
Arlind Rexhmataj
2024-08-16 17:57:12 +0000 UTC
