cdarwin (@cdarwin@c.im)
Thousands of Americans will receive little or nothing from savings accounts that were locked during 🎈the collapse of fintech middleman #Synapse.
Customers believed the accounts were backed by the full faith and credit of the U.S. government.
CNBC spoke to a dozen customers caught in the predicament -- people who have lost sums ranging from $7,000 to well over $200,000.
While there’s not yet a full tally of those left shortchanged,
at fintech Yotta alone, 13,725 customers say they are being offered a combined $11.8 million despite putting in $64.9 million in deposits.
https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html
Show Original Post
cryptadamist (@cryptadamist@universeodon.com)
@JessTheUnstill interesting fact: the #Synapse partner bank where all these issues are stemming from, Evolve Bank & Trust, has a bunch of fun properties:
1. Issuer of the #FTX debit card
2. Used by George Santos and Andy Ogles to store campaign funds
3. Banking partner of #PrimeTrust, the Nevada crypto custody company that collapsed in 2023
4. Banking partner of #BlockFi, one of the crypto "banks" that went down with the good ship FTX.
5. Recently hacked by Russians
6. Recently hit with a major fed enforcement action
Also Synapse was backed in a big way by Trump loving #a16z and Marc Andreessen.
Some more details:
https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action
#marcandreessen #EvolveBank #EvolvebankAndTrust #crypto #cryptocurrency #Bitcoin #ethereum #BTC
Show Original Post
igb (@igb@mastodon.hccp.org)
Billionaires like Marc Andreessen and Ben Horowitz want to fund experiments like #Synapse using the money from their limited partners. They aren’t at risk. There’s no downside for them. When it all goes south though, it is regular people who lose their life savings.
This is a fucked up and sad story.
We are going to see more and more of this kind of stuff now that "the handcuffs are off".
Show Original Post
jimdonegan (@jimdonegan@mastodon.scot)
#JosephLeDoux - What is the Nature of the #Self?
https://www.youtube.com/watch?v=NQ0DB0Qn7WQ
#Philosophy #PhilosophyOfMind #Mind #PhilosophyOfConsciousness #Consciousness #Neuron #Neurons #Synapse #Synapses #Psychology #Freud #Person #Personality #Personhood #Identity #PersonalIdentity #CloserToTruth #RobertKuhn
Show Original Post
PLOSBiology (@PLOSBiology@fediscience.org)
We know about #serotonergic signaling in neurons, but what does it do in #GlialCells? This study shows that glial serotonergic signaling is important for experience-dependent #synapse elimination & targeting during #Drosophila development #PLOSBiology https://plos.io/3zJnDrG
Show Original Post