The Truth About Fintechs.

Yotta has had their accounts frozen for almost a month now; which I just realized myself yesterday, I didn't have much only about $150, and it goes to show how vulnerable Fintechs are. In my personal opinion, I haven't shared out loud yet are, Fintechs should be treated only as beta test programs. I've seen many Fintechs that are scammy or close down only within a couple of months. Then if the Fintech is successful they should partner up with a legitimate bank like how Bilt did it. They use to be a closed-off beta but after they partnered with a reputable bank (Wells Fargo) then they released to the public to use. It hasn't been perfect but definitely safer for the people to do it in this way. However for the Yotta situation there does seem to be good news in that they finally got the documents from Synapses; so there could be a real solution in the next coming of weeks.

[@Ritchie_The_CEO]

Credit One will back any FinTech startup.

[@CalbyNg]

Ha! I’m sure you all would 😛

[@jimmyjames6492]

Thanks for the info + video!

[@CalbyNg]

Of course! Hope you weren't caught up too bad with the Yotta situation

[@jimmyjames6492]

@@CalbyNg 🍀🍀🍀We stayed away from all that!

[@CalbyNg]

@@jimmyjames6492 Ah, that’s good! Hopefully though Yotta will be fixed soon so everyone can withdraw

[@noby_huangkonghsiong]

I'm in a similar sticky situation with Juno; can't get my money out unless Synapse gets their * done. :(

[@morita9625]

how many fintech digital bank do you have 🤔

[@CalbyNg]

Quite a bit; I like to try new things haha. Of course, I don't put too much money or time into it since I see them as more test programs. I got Yotta, Curve, Moneyworld, X1, and some others I can't think of right now.

[@n-line97]

@@CalbyNgwell X1 is being bought up by Robinhood the merger should finish soon

[@DaIton-]

First

[@CalbyNg]

Congratz!