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110 points mikhael | 1 comments | | HN request time: 0s | source
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Nextgrid ◴[] No.45079198[source]
Mandatory reminder that YC itself has funded and is promoting (https://www.ycombinator.com/companies/yotta) a company that not only lost people's "savings" (despite misleading promises of FDIC insurance - which didn't actually cover their predictable failure mode: https://www.cnbc.com/2024/06/21/synapse-collapse-nearly-109m...) but is now operating an outright gambling scheme that is typically seen in unregulated Eastern-European casinos: https://members.withyotta.com/moonshot/.
replies(3): >>45079386 #>>45079590 #>>45080053 #
1. reaperducer ◴[] No.45079590[source]
I didn't know about Yotta, and looked it up …

Adam Moelis told CNBC in June 2024 that 85,000 Yotta customers, with a combined $112 million in deposits, could not access their funds.

https://en.m.wikipedia.org/wiki/Yotta_Technologies

Eep!