![Youtuber "Bank" is Collapsing [EARLY ACCESS]](https://img5.xaiju.com/storage/4/nn/ac/d38796-019e8f4f-7dac-77c0-81ed-aeefc50fe71f.jpg)
Youtuber "Bank" is Collapsing [EARLY ACCESS]
Added 2024-06-01 15:46:55 +0000 UTCThis story means a lot to me. Yotta is a savings app that advertised itself as a "no lose lottery" and was promoted by dozens of Youtubers. Now it's become a casino and won't let you withdraw.
I investigated why.
Comments
Does anyone else who watches Coffee on YouTube get streamed ads that directly correspond to what he's talking about? YouTube will see that I'm watching a series on Day Trading Scammers, and will interrupt Coffee to advertise... Day Trading Scams... To me.
Milien McDermott
2024-06-11 20:24:02 +0000 UTCI would take slight issue with the characterisation of the Silicon Valley bank situation. My own company is an SVB customer and like many smaller software companies we’re faced with payroll disruptions due to the situations. It wasn’t just rich and elite people that were helped.
Jordan Samuel Fleming
2024-06-04 08:02:01 +0000 UTCI am a normal person. I guess the difference is at 47 years of age I've been around enough to know better. Also I'm fortunate to have a moderately well paying job so I guess if I wanted to find opportunities to jack up my savings.....I guess this might be something I would think of.
Kellic
2024-06-03 19:46:47 +0000 UTCIs there a good way to get a 300+ million dollar crypto embezzlement scam in front of Coffeezilla. Aside from a milktoast article that Axios put out it hasn't received any real media attention. The guy preyed on many desperate people for years. A man had to leave his pregnant wife in Spain to take a job in Germany. Another man who also signed a court declaration said he could have provided comfort for his dying mother if he had been paid what he was owed. I have put up all the information including some of the court declarations from my civil case on the site www.patrickpaypeople.com I am sorry to be posting like this. I am just not sure how to get any confirmation that anyone from coffeezilla's team has looked at this. Thank you.
Donald
2024-06-02 05:05:18 +0000 UTCPeople should’ve learned from Grahams peddling of FTX that he peddles anything for a check. This is his 2/2 i smell a lawsuit coming his way.
Arecee773
2024-06-02 04:13:49 +0000 UTCOne thing you didn’t mention: Synapse had filed for bankruptcy. It has no cash or employees and a former FDIC chair is now running it. Apparently investors in Synapse knew for years that it wasn’t fully covering the funds it was supposedly depositing in the banks. I have a feeling that the “discrepancy” between what people gave to Synapse and what the FDIC insured bank says are in the accounts disappeared into Synapse.
David Weintraub
2024-06-02 03:33:57 +0000 UTCBack when Ask Sebby and Graham Stefan promoted Yotta, and Yotta had weekly drawings and a small interest rate, I was a depositor. Sure, other HYSA had higher rates, but the weekly lottery helped scratch the lottery gambling itch. The first red flag for me was when they added the extra gambling games after they went to daily lotto drawings and even worse odds of winning. When they introduced Yotta Cash to replace actual cash, that was a big red flag and I pulled out. But I still followed the discussions on Reddit. As someone who ignored the red flags and was a victim of the Celsius bankruptcy, my sympathy is for the Yotta, Juno, and Copper customers who only had that one bank account and now all their money is locked up in Synapse's bankruptcy proceedings. Sure, we can say "what were you thinking?" but look at it from a regular, normal person view. Everything Yotta said made it sound like a going concern. The insurance policy to pay the lotto winnings. The FDIC insurance so your money is safe. The only other FinTech failure like this was Beam, but that was resolved as soon as the partner bank got a copy of the ledger from the bankruptcy executor and could send customers' their money. The Synapse bankruptcy is so much bigger and more complicated than that.
Steve
2024-06-01 19:09:38 +0000 UTCTBF, everything was working fine until BaaS provider Synapse decided to go bankrupt and lock out the partner banks from seeing their ledger.
Steve
2024-06-01 19:07:12 +0000 UTCThank you for continuing to fight for the little guy. You do great work Coffee!
Linda Tock
2024-06-01 18:56:47 +0000 UTCthe ironic thing with yotta is that although they look super shady, they were undermined by their banking partners who have taken the money. It looks like yotta was rug pulled before they could rug pull themselves.
Rodney Peck
2024-06-01 17:10:22 +0000 UTCI just don't get why people play with their money like this. Put your money into a credit union, and be done with it. Playing the game of having a middleman between you and your money, or in this case you and the bank is just setting yourself up for problems. Go to an actual freaking bank.
Kellic
2024-06-01 16:49:00 +0000 UTCI can’t believe “no-lose lottery” turned out to be a fraud #LeopardsAteMyFace
beenyweenies
2024-06-01 16:42:22 +0000 UTCCoffee, just in case you're able to see this comment... THE FONT ON THE FINAL INFO GRAPHIC IS PRETTY HARD TO READ. (The Bladerunner font right before the Patreon names scroll.) ...to me at least lol. I am old with bad eyes I suppose.
Alfy Penny
2024-06-01 16:38:36 +0000 UTCHOT DAWG 😍
SeeBiscuit
2024-06-01 16:11:47 +0000 UTCIn retrospect "no lose lottery" should have been a clue that something was going to happen. Just sounds suspicious. I'm sure you're following up on this, so I'm looking forward to an eventual part 2.
NotSoBadAndy
2024-06-01 16:04:45 +0000 UTCSuper upsetting to see the government bias towards the wealthy vs average American :/ hopefully this at least puts a fire under synapse or evolve to stop pointing fingers
collette
2024-06-01 16:04:00 +0000 UTCCould you investigate Path Networks Inc? They have ties to crypto scammers and blackhats like CosmoTheGod as well as employ a active-pedophile as their COO. They also have done crypto scams themself and wasted investor money on drugs and the Ritz Carlton. The rabbit hole goes deep. pathtruths.com https://kiwifarms.st/threads/corey-shiratori-formerly-corey-ray-barnhill-august-heart-lulz-xyrix-ruxpin-zoom-internet-godspeed.46297/
Rin
2024-06-01 15:59:56 +0000 UTCCan we have the laws regarding banks apply to... I donno APPS.
Holly Plyler
2024-06-01 15:55:29 +0000 UTClotta nada yotta. LOL.
Holly Plyler
2024-06-01 15:54:37 +0000 UTCIt's crazy to me that just anyone can call themselves a bank and take people's money. I'm glad you pointed out the difference in treatment regular people get versus the rich and powerful
Shanita Andrews
2024-06-01 15:50:53 +0000 UTC
