CEO of Synapse responded denying most of Evolves allegations and blaming it on Evolve: (My questions included inline) According to reporting from the information: discrepancies were known about for years. Why weren’t they fixed? That’s a question for evolve. We had shared all of our findings with them and continued to. I wrote on it as well - medium.com/@sankaet/my-thoughts-on-the-reporting-from-last-weekend-bca763bfc904 Mercury over migration was their finding as well - medium.com/@sankaet/mercury-reconciliation-issues-7f3c8dec9b93 Why did synapse revoke access to the dashboard to evolve? Evolve dashboard access was suspended over a weekend and restored on Monday. We needed to think about what would be in the best interest for depositors given we had been giving evolve all the information but it seems like they were just using that to build their defense / strategy vs look out for the depositors. Evolve denies that they owe $150mm and say these discrepancies from your end. Has any fraud or embezzlement happened that could explain the gap? Millions don’t tend to go missing so easily. No - everything is accounted for, including the reasons for the shortfalls…I have the full accounting of the deficits. Just need to figure out what’s the personal risk to sharing it. But I am inclined to open source. Here is the screenshot of what Evolve’s system said the GL balances were as of 5/14. They are about $50M short because of the mercury over-migration issue. Their total deficit was about $92M (roughly). They used up our reserves to cover as much as they could and now have amnesia about us ever discussing all the reasons of shortfalls. You were working on the bankruptcy from Greece, when will you be back in the USA? I was there for a short period for a family event. I am already back in (redacted).
The only one I listen to is Caleb Hammer...and that's just him saying "stop spending on BS so you can retire, and you don't die on the Walmart floor." That's the extent to "financial advice" I take from YT 😂
I work at a fintech and yes, we are NOT a bank. But in many countries, we have to follow the banking system regulations. But what Yotta and others do, act and saying they are a bank, it's ILLEGAL!
First, I thought Revolut was a scam, but now, after some years, they are getting permission to be an official bank, so I guess not every fintech is a scam.
I’ll wager this money is gone and never made it to the bank to be FDIC insured. Even with the many lawsuits coming there’s none left to be divided up between customers.
I read a story about a high school kid who brought a panini press to school and was selling paninis. This was undercutting the school's cafeteria profits, so they demanded he stop. So he instead started selling paper towels, and with each purchase of a paper towel, you got a free panini.
Shoving $20 under a door and then going around to the back of the house where a vial of heroin mysteriously falls out a bedroom window just as you walk by, innit.
RUclips seriously needs to do something about these financial grifters on the platform. Graham, MeetKevin, Financial Education, Andrei, and others all need to be removed. If RUclips doesn’t do something they’re just going to keep burning people like they always do.
VPNs are a scam too, the way they're advertised is NOT at all what they do. They don't protect you from hackers or anything else they claim, other than letting you watch netflix in countries you dont live in.
Graham Stephen keeps getting away with not doing his due diligence and promoting scam companies. How can anyone take his advice seriously at this point?
There's a grave problem on RUclips of RUclipsrs doing zero research into sponsors they accept, it's just usually inconsequential because it's a crap game or crap shopping app or something.
@@greetingsmars zomers can be as old as 27 by now and almost all of them look like theyre in their 20s also theres prolly way more younger people theyre just not used as example cuz no ones cares about a teenager loosing 100 bucks
If you want advice, pay someone whose job it is to advise on a topic OR educate yourself on said topic. I know, it costs time and a little money but you won't end up with $40,000+ stuck in a scam
Coffee, This is not the same silicone ball bank at all. In that case the bank failed not a middle man. I agree that these depositors need help. But trying to compare apples to oranges is intentionally dishonest on your part.
They didnt seem absolutely destroyed by it so they probably have much much more. Id be in tears, but then again, i wouldnt put my money into gimmicks Edit: nevermind i got to the end that was pretty silly willy of them
Yeah I also didn't get the advantages. What made Yotta so good that they thought. Wow this is so good insteas of a trustworthy bank I try this crazy thing with all my savings....
This video is about to seriously change peoples' perspectives on 'financial' youtubers and the blatant lack of concern they have on the products they promote. Good on you man.
I left once their yield dropped below HYSAs, so maybe a year ago? VC cash isn't an endless moneypit, they should have just given up once it was clear the business model fundamentally didn't work. Pivoting doesn't always make sense because it leaves you with a bunch of operational baggage.
@@canadianreserve That saying has been updated to handle the fast pace of modern society and advent of networked information systems. It is now: "A sucker is born every second."
Great video. I'm currently calling multiple members of the United States Senate Committee on Banking, Housing, and Urban Affairs about this. So far the two staffers I called were not aware of this but were very receptive to looking it up. If you have a lot of money locked up in this, I'd recommend calling your state senators, especially if they're in that committee!
@@isaakpdmthe issue is that yes, the money is FDIC insured if a bank fails, but in this case the fraud is not at the bank level it is at the level of the person we assigned to talk with the bank. Essentially it is akin to sending a Taxi to pick up your money from the bank and the Taxi driver decides to not give you the money that the bank gave him. Fintech with this move is officially worthless and only actual banks are worth doing business with. If a Fintech company desires to screw clients, it can do so and flee the country and clients will be screwed because they are not a bank but rather the person you send to fetch money from your bank. 😓
The problem with youtubers is that people often 'grow up with them' from when they had 100 subs to 1 million. They feel a personal connection and trust. Which makes them so dangerous.
I love how whenever Coffeezilla does these videos he always shares footage of the victims of the scam and the impact it's had on them. Scams are not just money disappearing into the void, it's ruining the lives of countless individuals.
I personally dislike it. Hearing about the difficulties faced by the victims is uncomfortable and I don't think I need it to realize that scams and other bad businesses are bad.
@@josie8641 I only said that I personally dislike this choice by Coffeezilla. Surely I'm allowed to say that. I can still understand why he makes that choice. You can rarely please everybody. I'm not even saying his videos are on the whole too uncomfortable or anything. I merely said that I would personally like them more without the really sad stuff. I personally wouldn't need to feel the sadness so viscerally to know it's there.
A family member got scammed some years ago along with thousands of other people. Some of those people couldn't bear the fact they had brought financial ruin on their families. Some of them are no longer with us😢
Sounds like the laws need to change to where you can’t say “FDIC insured” unless you’re the actual bank. People are thinking these platforms are the bank.
The government doesn't care; that's the problem. They let everyone abuse loopholes in the simplest things to take advantage of others, so long as you're not taking advantage of them...
Hell, I just got 10 voip calls today alone from robocallers... it's been decades and still they haven't done anything about it, so they won't tackle this either...
@@Xpens Who cares, people think the entity they're dealing with is the bank. So they're claiming banking protections when they're not the bank themselves.
Maybe people need to stop investing their “safety net” savings in something that calls itself a “no-lose lottery”…just saying. Ask yourself, “Would Warren Buffett invest in this?” If it sounds too good to be true…it is. Look, I’m not trying to be a prick, it took me losing £500 to learn that lesson. And it was the best £500 I ever spent. But your LIFE FUCKING SAVINGS? All of them? In one, too-good-to-be-true, investment opportunity? My brothers in Christ, have you heard of government bonds?
To be fair if they are promoting a harmless product (not going to hurt my livelihood) like VPN service or some kind of food seasoning I want to support companies who put money into the creators I like. Banking services….. umm… hard no.
Sad part is there is precedent that gamified savings works for some people. Look up U.K. Premium Bonds. Yotta’s decision to become a casino is disgusting.
@@CoffeezillaNew Zealand had something similar called Bonus Bonds, first run by the Post Office then handed off to ANZ bank. It was only closed a few years ago when interest rates dropped to near zero.
I mean if they had good intentions it could work great I had actually considered putting money in cause odds are better off making something than shty bank accounts...
It's not that an odd idea. There has existed government bonds that instead of paying interest, payed the same amount but to fewer, randomly selected, bond holders.
"No-lose Lottery" mean "no winner", since to have a winner, someone need to lose, or the lottery win but all the gambler lose. Man, it's hard to explain something so clear without be complete simple.
would love to see your comment under a video about peeps drinking raw water as it's "juice of the earth, not contaminated and pure" ;d. they're the same type of person.
See also the massive amount of money they inherited/were given by their parents allowing them to 'pull themselves up by their bootstraps' and start businesses with 0 financial risk
@@bigta1982 The idea of all stock marketeers and bankers all scamming people is an extreme parody of the truth. Blackrock is not going to invest my savings into digital land, and if Amex ever had an issue like this, it would go to court
@@jblyon2 Something that's so annoying is that "pull yourself up by your bootstraps" used to be a working class saying. Because the act of lifting yourself up by your bootstraps is physically impossible. It illustrated that this lie that anyone can get out of financial hardship by just working hard was an absurd idea. It used to mean the exact opposite thing that it now means. It's infuriating that it's been adopted by the wealthy who got lucky to use it to stamp on the legitimate concerns of working people.
Since my young days, I instinctively and naturally always knew that if someone is promoting something repeatedly, there is always a catch, and it is never in your favor.
Indeed. FTX almost got me. I even installed the app. I was about 10 minutes away from transferring all my crypto over but just didn’t trust it. Had I made that mistake, I probably would not be a home owner today.
It's nice when the catch is something simple. Raid Shadow Legends is just a bad game, no real harm done. When the pitch involves the customer getting money is when you know not to touch it with a 10 foot pole
There are boring good fiance youtubers like ben Felix and the plain bagel and the Swedish investor. You will notice they don't suggest investments though.
Incredible how so many RUclips who also run podcasts, while renting out property, are just scummy people who just look at the money and not the people.
Shouldn't be locked up, he's just having a sponsored video, however his credibility should be non existent now considering he's done this twice, no idea how you could listen to a financial RUclipsr who has been involved in two large financial scams. So many RUclipsrs taking sponsors without putting any due diligence in at all
he seemed ok but then a lot of the financial influencers.... yeesh. lots of them were giving out advice that later screwed people with that bank collapse out west.
He promotes useful advice like "buy and hold the S&P 500" which most investment strategists will tell you is a reasonably safe bet, but it's usually attached to a video promoting some new crypto or real estate get rich quick scheme
@@Xpens To get more money into someones pockets. Don't think that rich people don't steal or professional athletes don't cheat. It could also just be straight incompetence and not theft. Some moron didn't log in entries or lost paper work and they get stuck in this rut.
His audience. He explains financial concepts in a easy way to be understood. So his audience is new to finance and "he can be trusted as he knows what he's talking about".
your work is unparalleled Coffeezilla. Not only do I learn so much from watching you. It's done is such a well, professional, and entertaining manner that keeps me coming back to see who's under fire next! Keep it up!
I've written my Congressperson and included your video link. I'm not involved with any of the entities, just tired of millionaires being bailed out while us commoners get the shaft.
Hey CoffeeZilla, I just wanted you to know that you and journalists like you are the reason that im going into the career field. Keep up the good work. You are bringing the bad to light and inspiring others to do the same.
It's really difficult, do you think others are reporting false , twisted , or news with blatant lies because they want to ? They can only publish what they are allowed, not what they want . Some of the scams he talked about were so big that many rich people were invloved ,like that crypto currency trading platform which got shut down a year back. Its valuation was some billion dollars
@@aliasgur3342 Shocker, plain bagel actually works in finance with the right education and licenses. This is the reason why we have professionals but now it seems everyone is a professional as long as they google hard enough.
I used to really like Graham a lot. He had some really solid advice, and it helped me get in the right mindset and put me on the right track financially. I stopped watching him eventually, right before he started pumping crypto and shelling garbage financial platforms like this one. Really sad to see.
If you’re rich, you get your money back, if you’re ordinary, you just have to suck it up, but who can actually afford to suck it up & who NEEDS it back?
the real question is who can afford to NOT suck it up? only the rich can afford the lawyers needed to see any real action happen; especially after all of your money is frozen in said bank.
You'd think being someone who talks all the time about the financial system, they would have some solid understanding of the things they support and the risks involved. So either they don't know what they are talking about, or they choose to ignore the risks. Either way, maybe not someone you want to take financial advice from.
What’s crazy is that Adam, the founder, has been nepo’d into Wharton and all of his early jobs since he’s the son of Ken Moelis, the founder of one of the most prominent investment banks in the world.
It's not just youtubers. It's youtube itself as well. I couldn't even tell you the amount of scam ads on youtube's site that I've seen. I don't see them as much anymore because I use ad blockers but at least 70% of the ads I used to get were scams
If Warren Buffett wouldn't touch it with a pole, neither will I. Buffett warned people about crypto "They produce nothing. They add no value.", - nobody listened. This is a different, but just as foolish bet. 99% of investors lost their ass, while the 1% pump and dumpers on the inside of the scams made bank. A tale as old as financial scamming itself.
@@laszlo3547or in cases where the bet is always that you win (in cases of betting with friends) it simply means that they're getting something out of it that they'd consider the trade off of losing as a win. Simply put, the house always wins.
@@legallyrequired And "If it looks too good to be true, it probably is a great opportunity to jump in with your life's savings". .. Hmm, something felt off about that one. May edit later.
Not based enough bro you need to maximize your hussle. Steal from children if need be, fcu is old school. Get into cyber crypto gaming banking nft timeshare coins.
@@andybaldman never watch Graham but every time I see his clip on any yt channel there is something that always made me feel something was off about him. I guess it the things that he said wasn't something that he truly believed in but he just trying to get as much sponsor as possible without doing too much research on what he is promoting.
@@thecircuitbox They are saying two thousand dollars. Yotta was not marketed as an investment; it was marketed as a savings account. It is perfectly reasonable to place your last two thousand dollars into a savings account.
You shouldn't invest or trade with money you can't afford to lose. That guy had a wedding deposit and was going to buy a home etc. You're not getting very far with either of those things with $500. Either way IMO he's quite lucky that's all he put in there..
So either you only own incredibly cheap and unknown electronics, or you're lying. Cause basically any phone/computer/console is promoted by a RUclipsr in some way
@@BeeTheBeegenerally, if a company is willing to spend so much money on advertising, the company won’t be spending that money actually making a good product. i like to watch ads so i can find a similar company that doesn’t dump all their money into advertising.
he didn't "fall off" saying he's falling is just old fan's trying to act like they didn't used to be into a man who's always been a skeevy grifty sort of guy. You used to love skeevy scammy videos. They've not gotten worse, he's not changed morally, you've changed. You used to love awful amoral videos and now that you see that we see he's a bad person you gotta act like he wasn't when you loved his work.
Graham's next video: "How I made 100 million dollars" and its just him giving the advice of "keep working hard" and selling his self "help" book, that is just quoting studies that were already in other dozen self "help" guru books.
Do anything except unionize with your fellow poors. You personally can get rich so you don't have to think about how everyone else is getting ever more screwed.
@@Praisethesunson unfortunately we need more than that. Unions will help but we are nearing gilded age levels of inequality and political influence from the top 0,01% and us just not getting screwed in our work won't be enough.
@@NotADunconyou’re absolutely correct that we need more than unions. But we need to start somewhere. Unions are the easiest and most direct form of action that the average person can get behind. Once they’re behind it and understand the concept, then we can progress the conversation towards larger actions
This is like saying "I took your money and deposited it into my bank account, which is FDIC insured.. so your money is safe". If you don't control the account, it's not your money anymore.
Pretty much the entire fintech space is like this. The only legitimate "fintech" is just making traditional banking and finance services easier to access electronically, which traditional real banks and firms already do. "Innovative" ought to be considered a swear word when it comes to finance, the only things you can "innovate" in finance are creative ways to commit legal fraud
@@TheBitcoinExperience Nobody has ever lost money in an FDIC-insured account due to bank failure in the US since the program was created nearly a century ago. Not even regular private citizens. Whereas countless people have lost money to crypto exchanges, exploitative "fintech" bullshit, and other quasi-legal grifting this year alone.
Here’s the actual scam: a group of rich kids found a way to launder money by acting out a scam where they “lose” money. The fall guy isn’t even falling as he can hide behind user agreement. It’s a win win, right?
ya.. i'l tell you what that feeling was.. its the fact that someone who claims to be a "real estate investor / finance guy" makes more money from youtube than anything. thats not a good thing. Like imagine your doctor makes more money from peddling pills than actually being a doctor.. you might not trust them
Just the other day, SomeOrdinaryGamers was saying that VPN is the riskiest sponsor coz a shady VPN could be peeping everything you do. So that too isn't a safe sponsorship choice to push blindly
@@IbrahimDarCo SomeOrdinaryGamers... You mean the guy who promoted Established Titles? Gee I wonder why he's so keen to say that other sponsors are shady.
Coffee, you’re doing a fantastic job mate, please keep doing your thing. We need more morally responsible people like you to give social media its much needed checks and balances!
Oh shit I remember friends of mine getting into Yotta because of Markiplier's Ad Sponsor. "Yeah, Mark doesn't get scammed, he's smarter than that, so if he says it's fine I'll trust him" I wonder if they got their money out.
I first came across his content like... 3 years ago, and he was already shit promoting overleveraged positions with no account to risk. Haven't checked since
There’s 10s of millions of $$$ on the line. ($150m according to evolve). They are financially incentivized to blame each other as much as possible. Horrible for the actual people stuck in the middle.
They will need to do a full audit of every transaction between all parties (including customers deposits and withdrawls) starting from the point that their balances all agree to now to find the discrepancies. This should be done by another company that is neutral and has no ties to any of the parties involved. It is tedious but isn't that difficult to find the discrepancies the issue is going to be figuring out exactly what caused it and where the funds actually went.
@@chrismiller5940 I believe those people you refer to are called "auditors". It's a pity that their own auditors spent the last two years in suspended animation on the planet Klarnfurgle.
CEO of Synapse responded denying most of Evolves allegations and blaming it on Evolve:
(My questions included inline)
According to reporting from the information: discrepancies were known about for years. Why weren’t they fixed?
That’s a question for evolve. We had shared all of our findings with them and continued to. I wrote on it as well - medium.com/@sankaet/my-thoughts-on-the-reporting-from-last-weekend-bca763bfc904
Mercury over migration was their finding as well - medium.com/@sankaet/mercury-reconciliation-issues-7f3c8dec9b93
Why did synapse revoke access to the dashboard to evolve?
Evolve dashboard access was suspended over a weekend and restored on Monday. We needed to think about what would be in the best interest for depositors given we had been giving evolve all the information but it seems like they were just using that to build their defense / strategy vs look out for the depositors.
Evolve denies that they owe $150mm and say these discrepancies from your end. Has any fraud or embezzlement happened that could explain the gap? Millions don’t tend to go missing so easily.
No - everything is accounted for, including the reasons for the shortfalls…I have the full accounting of the deficits. Just need to figure out what’s the personal risk to sharing it. But I am inclined to open source. Here is the screenshot of what Evolve’s system said the GL balances were as of 5/14. They are about $50M short because of the mercury over-migration issue. Their total deficit was about $92M (roughly). They used up our reserves to cover as much as they could and now have amnesia about us ever discussing all the reasons of shortfalls.
You were working on the bankruptcy from Greece, when will you be back in the USA?
I was there for a short period for a family event. I am already back in (redacted).
💀
Taking flights to Greece is the first clue where the money went 😂
So, he says, she says
Enough to make you sick
Dang
Your money is so safe, even you cant get to it.
Such savings, much secure.
LOL but I bet YOTTA can!
Safer cannot.
hahahahaha They really took the idea that your money can never be too secure to the ultimate level
💀
$0 dollars frozen in Yotta because I don't take financial advice from RUclipsrs
Yeah. This entire world makes me feel like Im one of the smartest people on the planet.
The only one I listen to is Caleb Hammer...and that's just him saying "stop spending on BS so you can retire, and you don't die on the Walmart floor."
That's the extent to "financial advice" I take from YT 😂
@@get.sassyxdhis ad spots are still kinda sus, even though his content is good.
There are legit great RUclipsrs out there. But they're not telling you to buy stuff theyve been paid to advertise.
@@petesagat8952 it's literally the movie idiocrasy
Finance RUclipsrs? Promoting scams? I could never have seen this coming?!?!
I myself am having a hard time digesting this information as well.
Markiplier promoting it scares me
Same people over and over
He's sarcastic 😂 why this guy's are on YT to make RUclips
Yeah the same ones that were promoting crypto lol Think nfts too
I work at a fintech and yes, we are NOT a bank.
But in many countries, we have to follow the banking system regulations.
But what Yotta and others do, act and saying they are a bank, it's ILLEGAL!
In your opinion is Wealthfront cash app safe? I have my savings in that
First, I thought Revolut was a scam, but now, after some years, they are getting permission to be an official bank, so I guess not every fintech is a scam.
VPNs: Sell your data.
Banks: Steals your money
Turns out that the only legit ad is Raid Shadow Legends after all.
and Kiwico! Actually i never skip Steve Mould's shilling as it seems genuine and to the point of video ;)
Ehh.... I mean atleast you are still getting a game at the end of the day...
At least Raid is transparent about how shitty their game is by just showing it 😂
Do VPN’s really sell data? Like, all of them? Are there any good videos about that?
@@Lezm I know Nord VPN had a big leak and then hid it pretty well, but you still can find info about it
When your savings bank adds gambling, Yotta get your money out...
Good joke, good joke!
👏👏👏
Damn bro even coffe himself liked ur comment
NICE 😂
but I love gamba
Graham Stephan is a wolf in sheep's clothing. FTX , pumping shiba inu, Yotta dude is involved in every scam possible and takes 0 responsibility
I would really like if he got back into boxing
I just looked at his Thumbnails. Everything about him scream scams
Blockfi?
@@simonfiala2393What about it?
He is a scammer!
I’ll wager this money is gone and never made it to the bank to be FDIC insured. Even with the many lawsuits coming there’s none left to be divided up between customers.
Yep!
That guy with $563 frozen is feeling the most pain out of all of them.
I was thinking the same thing 😂😂
Bro is barely alive and life fucked him over one more time.
It’s hard out there 😂
"What does that money mean to you?"
"I was going to buy a really nice keyboard, now I've had to put that all on hold"
@@MahaXad Sadly, that's usually how it is.
"No officer, you misunderstand. I am not selling dope, I am selling plastic bags that just so happen to come with a free dose."
This comment should get at least 1k likes lmao
Young thugs lawyer
I read a story about a high school kid who brought a panini press to school and was selling paninis. This was undercutting the school's cafeteria profits, so they demanded he stop. So he instead started selling paper towels, and with each purchase of a paper towel, you got a free panini.
@@DarkElfDiva Beat me to it, I was about to comment about Panini Guy! Dude is a certified legend.
Shoving $20 under a door and then going around to the back of the house where a vial of heroin mysteriously falls out a bedroom window just as you walk by, innit.
I used to watch Graham Stephen, but I slowly began to realise that he gives zero fucks about his audience and will promote anything.
few youtubers give a fuck about their audience
He openly admitted to not returning his shopping cart on a podcast "because they pay people to do that", which says all you need to know about him
His video thumbnails and titles are laughably cringey and clickbaity as well.
Literally every youtuber
@@JoshTavaresso much this
RUclips seriously needs to do something about these financial grifters on the platform. Graham, MeetKevin, Financial Education, Andrei, and others all need to be removed. If RUclips doesn’t do something they’re just going to keep burning people like they always do.
The problem is those same.peopl being scammed are still subscribed. If they lost all their followers, they would quit.
RUclips wouldn't do anything, turn off your adblocker and watch some of the crap youtube itself advertises... they're almost as bad.
Agreed !
yt are the top grifters!! 🤣😂😂😂🥱
I like to watch Andrei.
Never, ever, ever, put blind trust in anyone trying to get you to invest in something. They always have an agenda.
Let them learn the hard way
It's not really an "agenda" it's more they just got paid.
People need to stop listening to RUclipsrs and TikTokers and actually use their own minds
@@adamnichol499say it louder ✍️✍️
@@ggaz683😂😂😂😂😂
"Shill a VPN and call it a day" was a sharp and lowkey jab...I love it.
He actually said: "shill a VPN and have a nice day".
I'd have more respect if they pushed raid instead of anything financial.
@@thefriendlessgamer8552 they dont need your respect, they need your mone
a surf and sharky jab, even
VPNs are a scam too, the way they're advertised is NOT at all what they do. They don't protect you from hackers or anything else they claim, other than letting you watch netflix in countries you dont live in.
Graham Stephen keeps getting away with not doing his due diligence and promoting scam companies. How can anyone take his advice seriously at this point?
Maybe it's worse. Maybe he DID do his due diligence and still did it anyway.
Once Graham Stephen touches something...I stay the HELL AWAY...he took a lot of people down when Promoting FTX...
@@nunyafunyunsit’s definitely not a coincidence when he’s promoted several scams at that point. This, FTX, he’s done this multiple times
@@brockfuller2074genuine interest, did he promote another scam beside ftx or did you just “and others” to make your argument sound better.
Just listen to the sound of Graham's voice: Pure Beta. Like a middle school boy
There's a grave problem on RUclips of RUclipsrs doing zero research into sponsors they accept, it's just usually inconsequential because it's a crap game or crap shopping app or something.
It's mindblowing how many people still trust Graham after his FTX scam... and now Yotta.
zoomers aren't the brightest generation, and their parents aren't much better
@@andrewjackson244how many of the victims interviewed here looked like zoomers, *maybe* the first guy?
@@andrewjackson244 pretty sure its millennials with inflated egos
@@greetingsmars zomers can be as old as 27 by now and almost all of them look like theyre in their 20s also theres prolly way more younger people theyre just not used as example cuz no ones cares about a teenager loosing 100 bucks
@@minzekatze true im a 27 years old zoomers
Easy sign to tell if you're getting ripped off:
1. Graham Stephen is involved.
I've never directly been exposed to him; is he really that bad?
100%
2. Multiple different RUclipsrs are sponsored, often reading the same script to promote it.
@@Karan-Aujla His due diligence when promoting something "How much are you paying me?"
@@Karan-Aujla His track record is not great
When a company says “no lose” you probably gonna lose.
It's them that won't lose.
Every single time
There's an old true saying : "when a company offers nothing to buy, you are the product"
exactly, as soon as someone calls any investment as a no loss investment i become far more skeptical of it
@@zainanwar9281 a savings account generally isn't referred to as "an investment".
One born every minute, it never ends and people NEVER learn, incredible.
Why is it that every time a financial scam company is discovered Graham Stephen was one of the RUclipsrs promoting it?! 🤦🏻
Dude’s so sketchy
Hes all about minimizing costs and turning profit, isnt really that hard to believe it when you put it like that...
@@n1troni forgot to add “and has no shame”
And how is he still allowed on RUclips?
You know what they say, never trust a person with two first names😅
Rule of thumb kids : if it's promoted by RUclipsrs either avoid it at all costs or, at worst, tread incredibly light
not everything, but most things lol
I never trust companies who sponser absolutely everyone.
If you want advice, pay someone whose job it is to advise on a topic OR educate yourself on said topic.
I know, it costs time and a little money but you won't end up with $40,000+ stuck in a scam
Yeah it's either a scam or it's some overpriced product
If its recommended by youtubers never trust it. most youtubers dont care, they just want the sponsorship money.
Glad you made Stephen the face on the thumbnail. Tired of him skating off.
Dude skated from FTX so quickly by deleting videos. Now doing the same!
Stop allowing it.
I almost didn't watch this video because I thought it was one of Stephen's videos though. I can't stand that guy.
@@z3r3pmotowas going to say the exact same thing. The thumbnail made it look like one of his videos so I almost passed.
Coffee, This is not the same silicone ball bank at all. In that case the bank failed not a middle man. I agree that these depositors need help. But trying to compare apples to oranges is intentionally dishonest on your part.
not the Coach Ralph I was expecting
me either
Yeah wtf
really confused right now
@@clayes4143 Coach didnt own that domain, so i bought it. Redirected it here to get eyeballs on this situation.
98 grand. And you put that money in a digital only bank you had never heard of except through RUclipsrs.
Doh!
The stupid tax is very high
They didnt seem absolutely destroyed by it so they probably have much much more. Id be in tears, but then again, i wouldnt put my money into gimmicks
Edit: nevermind i got to the end that was pretty silly willy of them
i so so so dont want to victim blame but ..... oh my god
Yeah I also didn't get the advantages. What made Yotta so good that they thought.
Wow this is so good insteas of a trustworthy bank I try this crazy thing with all my savings....
This video is about to seriously change peoples' perspectives on 'financial' youtubers and the blatant lack of concern they have on the products they promote. Good on you man.
but also why are people trusting the vouching of youtubers when they are investing so much money.
The only finance youtubers I've never heard any scams out of are the money guys
Until most legislations stamp that "not financial advice" ACTUALLY qualifies as financial advice, the grift will live on
no it wont, fools are born every second
Never understood why people blindly take finance advice from RUclipsrs and not do their own due diligence.
these "finance" gurus aren't actually super smart guys who cracked the code to success, they're just landlords 💀
More like they scam their audience
@@gugulethuzangwa8358 both, it's both
They don't own anything 😂they just scam people
More like scamlords.
And scammers 💀💀💀💀💀💀💀
Anytime there's mass RUclips endorsement of one particular brand or product, I vows to never touch it
Wait, so you mean to tell me you never bought a plot of land in scotland to become a scottish lord or lady? whaaaaaat
Or some wallet I don't need
You mean you don’t have sixteen razors from dollar shave club? Kinda sus bro
World of Better Fresh Titles - this one weird loophole lets unqualified Scottish lords deliver the freshest food to your tank.
Like BetterHelp 😂
This is why I keep all my money in a pickle jar hidden under my mattress. That and apparently you need more than .65 cents to open a bank account.
I know u made a small fortune in propane
Sounds like what Hank Hill would actually do
I use the Hefty bag technique.
🤣
😂😂😂😂😂
I started getting uncomfortable with the gambling so I pulled my money out about a week before it froze. That was super lucky
I left once their yield dropped below HYSAs, so maybe a year ago? VC cash isn't an endless moneypit, they should have just given up once it was clear the business model fundamentally didn't work. Pivoting doesn't always make sense because it leaves you with a bunch of operational baggage.
Idk you went ahead to gamble on it. Did you really get your money back from them or your bank by reversing the transaction on fraud claim
I tried to pull my money right as it froze, unfortunately.
LOL did the ole neo from the matrix move
The concept of someone throwing their savings into a RUclipsr promoted financial institution is absolutely insane
Not saying they deserve it, bu,,,,,t.
A sucker is born every minute
Disagree; BitConnectttttttttttt!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And not just a couple dollars or a couple hundred bucks…literally ten of thousands of dollars. Insanity
@@canadianreserve That saying has been updated to handle the fast pace of modern society and advent of networked information systems. It is now: "A sucker is born every second."
Great video. I'm currently calling multiple members of the United States Senate Committee on Banking, Housing, and Urban Affairs about this. So far the two staffers I called were not aware of this but were very receptive to looking it up. If you have a lot of money locked up in this, I'd recommend calling your state senators, especially if they're in that committee!
Ok nerd
@@twigcapra. that's like saying "Ok goth" to Elvira
amazing, nice job
They don't care.
If it's not FDIC insured, it's not really a bank.
Didn't they claim it is FDIC insured?
@@isaakpdmthe issue is that yes, the money is FDIC insured if a bank fails, but in this case the fraud is not at the bank level it is at the level of the person we assigned to talk with the bank. Essentially it is akin to sending a Taxi to pick up your money from the bank and the Taxi driver decides to not give you the money that the bank gave him.
Fintech with this move is officially worthless and only actual banks are worth doing business with.
If a Fintech company desires to screw clients, it can do so and flee the country and clients will be screwed because they are not a bank but rather the person you send to fetch money from your bank. 😓
@@isaakpdm yes, indeed they did. Not sure what that means as to how long it will take to get your money back.
well it is fdic insured, but that's not the bank that failed in this case
FDIC is a joke they might be able to bale out bank of america, but everyone else screw you.
Who’s here because of Coach Ralph? Channel 5 Worldwide
I’m so confused why does it bring you to this page..
@@BringBackTheTruth92 haha i lost a shit load and bought the coach ralph domain when Channel 5 video dropped.
The problem with youtubers is that people often 'grow up with them' from when they had 100 subs to 1 million. They feel a personal connection and trust. Which makes them so dangerous.
If you trust somebody, you don't personally know you deserve everything you get.
@Joe-jp1pb 100% agreed. I'm just saying how this shit be working.
Actually only 100 people per youtuber have that story
@@Joe-jp1pb easy thing to say until it happens to you 😂
@@monkyk1ng
It is very easy to say because I'm not a moron.
I love how whenever Coffeezilla does these videos he always shares footage of the victims of the scam and the impact it's had on them. Scams are not just money disappearing into the void, it's ruining the lives of countless individuals.
I personally dislike it. Hearing about the difficulties faced by the victims is uncomfortable and I don't think I need it to realize that scams and other bad businesses are bad.
@@seneca983”victims shouldn’t have their stories told because it makes me uncomfortable” bro…
@@seneca983 oh poor you, how will you ever face the real world?
@@josie8641 I only said that I personally dislike this choice by Coffeezilla. Surely I'm allowed to say that. I can still understand why he makes that choice. You can rarely please everybody. I'm not even saying his videos are on the whole too uncomfortable or anything. I merely said that I would personally like them more without the really sad stuff. I personally wouldn't need to feel the sadness so viscerally to know it's there.
A family member got scammed some years ago along with thousands of other people.
Some of those people couldn't bear the fact they had brought financial ruin on their families. Some of them are no longer with us😢
“I don’t hold them personally responsible, I hold them irresponsible”. What a great quote
And fiscal irresponsibility is an actual big no-no...
I actually hold them responsible. Especially that Andrei "chimpmunk" Jinx
I'd take financial advice from Pokemane before financial RUclipsrs.
@@Dragon-Believer Pokemon?
Agreed! People cannot be so dumb as to trust someone on the internet without doing your own research.
I really cannot believe anyone would take and act on any ‘financial advice’ given over the internet and especially on RUclips.
Sounds like the laws need to change to where you can’t say “FDIC insured” unless you’re the actual bank. People are thinking these platforms are the bank.
The government doesn't care; that's the problem. They let everyone abuse loopholes in the simplest things to take advantage of others, so long as you're not taking advantage of them...
Hell, I just got 10 voip calls today alone from robocallers... it's been decades and still they haven't done anything about it, so they won't tackle this either...
@@QQnowQQlater only way to solve robocallers is to move away from S7 and I don’t see the happening any time soon.
The bank is FDIC insured. Did you not watch the video?
@@Xpens Who cares, people think the entity they're dealing with is the bank. So they're claiming banking protections when they're not the bank themselves.
Stephan Graham must be stopped - surprised he hasn’t been sued to oblivion yet
He pales in comparison to his friend Kevin Meet, who's pulling some real shady shit rn. Surprised Coffee hasn't covered that yet
Maybe people need to stop investing their “safety net” savings in something that calls itself a “no-lose lottery”…just saying.
Ask yourself, “Would Warren Buffett invest in this?”
If it sounds too good to be true…it is.
Look, I’m not trying to be a prick, it took me losing £500 to learn that lesson. And it was the best £500 I ever spent.
But your LIFE FUCKING SAVINGS? All of them? In one, too-good-to-be-true, investment opportunity? My brothers in Christ, have you heard of government bonds?
Start complaining to RUclips, get his ass banned.
Damn dude I actually put a good amount of money in their bank in 2020 because of graham. Fool me once shame on them fool me twice shame on me
@@sylouiThat’s the same dude that avoided DUI charges because money… god I hate him
I have a simple rule: If a RUclipsr's advertising it, I don't want it.
I have a simpler rule. Want nothing expect even less therefor be delighted with the littlest things. My Autism mantra
the harder something is advertised, the worst the product probably is. good products get customers from word of mouth.
To be fair if they are promoting a harmless product (not going to hurt my livelihood) like VPN service or some kind of food seasoning I want to support companies who put money into the creators I like. Banking services….. umm… hard no.
@@ohiasdxfcghbljokasdjhnfvaw4ehr Raid Shaid Laid is complete garbage, and Void Stranger is the best puzzle game created since crosswords
@@michelle8190 lmao 99% of what youtubers promote is scam trash.
Thanks coffeezilla keep at them. Grateful you exist.
Awh no Maaaaark...
I hate when my favorite RUclipsrs do this. Like, that "buy land, become lord" scam. That got everybody.
lol same, gut dropped when I saw him, hopefully he'll say something
He is probably gonna address this in a video most likely but yeah they got him too :(
That was not a scam
@@GigaChadsAreReal he's a scammer, he bought into it knowing what it was
@@IndexInvestingWithCole it kinda was. fooled a lot of people into buying into a printed piece of paper
I'm so glad I dodged this bullet. Mixing the lottery and savings was the biggest red flag concept I've ever seen.
Exactly… 😂😂😂😂
Sad part is there is precedent that gamified savings works for some people. Look up U.K. Premium Bonds.
Yotta’s decision to become a casino is disgusting.
@@CoffeezillaNew Zealand had something similar called Bonus Bonds, first run by the Post Office then handed off to ANZ bank. It was only closed a few years ago when interest rates dropped to near zero.
most people don't have to dodge these bullets... greed, it's ironic.
I mean if they had good intentions it could work great I had actually considered putting money in cause odds are better off making something than shty bank accounts...
“Influencers” like Graham should not be allowed to go back and delete videos of the scams he promotes.
but he did its not his fault people are dumb sorry not sorry, its peoples fault
@@Azuria969 so you believe he bears no responsibility at all?
He should be banned from RUclips 100%
I dont believe that I KNOW IT whomever took his financial advice is the responsible one
@@Azuria969 you like rubber?
Coach Ralph....
lol. Coach Ralph didnt own the domain he pitched. So i bought it real quick and directed it here. Trying to get eyeballs on this - we lost over $100M
the website said "no-lose lottery", if you saw that and thought "hell yeah, count me in"... I don't even know what to say lmao
you say "rip bozo"
It's not that an odd idea. There has existed government bonds that instead of paying interest, payed the same amount but to fewer, randomly selected, bond holders.
even worse put every little bit of savings you have into it
You have to have brain damage to think that such a thing exists. It's pretty bad.
"No-lose Lottery" mean "no winner", since to have a winner, someone need to lose, or the lottery win but all the gambler lose. Man, it's hard to explain something so clear without be complete simple.
How are people dropping thousands in no-name financial entities? It's dizzying to me.
would love to see your comment under a video about peeps drinking raw water as it's "juice of the earth, not contaminated and pure" ;d. they're the same type of person.
Exactly. It’s like they want to get scammed.
My first thought 😂
*Not fdic insured*
Simply, they are not smart and/or gullible when it comes to finances and risk.
Oh those finance RUclipsrs with zero finance training and barely a high school diploma are doing a new scam? What a surprise
Sir, a second Dan Olson video has hit the finance bros
See also the massive amount of money they inherited/were given by their parents allowing them to 'pull themselves up by their bootstraps' and start businesses with 0 financial risk
The professional ones do it, why wouldn't the amateurs?
@@bigta1982 The idea of all stock marketeers and bankers all scamming people is an extreme parody of the truth. Blackrock is not going to invest my savings into digital land, and if Amex ever had an issue like this, it would go to court
@@jblyon2 Something that's so annoying is that "pull yourself up by your bootstraps" used to be a working class saying. Because the act of lifting yourself up by your bootstraps is physically impossible. It illustrated that this lie that anyone can get out of financial hardship by just working hard was an absurd idea. It used to mean the exact opposite thing that it now means. It's infuriating that it's been adopted by the wealthy who got lucky to use it to stamp on the legitimate concerns of working people.
coachralph gang use the way back machine!
Since my young days, I instinctively and naturally always knew that if someone is promoting something repeatedly, there is always a catch, and it is never in your favor.
Indeed. FTX almost got me. I even installed the app. I was about 10 minutes away from transferring all my crypto over but just didn’t trust it. Had I made that mistake, I probably would not be a home owner today.
It's nice when the catch is something simple. Raid Shadow Legends is just a bad game, no real harm done. When the pitch involves the customer getting money is when you know not to touch it with a 10 foot pole
@@mylesgray3470 Why did you go to transfer ALL??
Why can NO ONE move things in increments? Why is it always everything or nothing.
Ha, my actual bank doesn’t let me pull out money either, they just keep saying Logan Paul hasn’t given it back to them yet
I remember RUclipsrs promoting this “bank”. I don’t listen to finance RUclipsrs anymore. They just want to make money.
Doesn't everyone?
"I don’t listen to finance RUclipsrs anymore."
Good grief. "Anymore". Do you also get your medical advice from RUclips?
There are boring good fiance youtubers like ben Felix and the plain bagel and the Swedish investor. You will notice they don't suggest investments though.
@@ZacharyBittnerand Dave Ramsey
@@fireboy1996 ... yes? :(
Where the hell is Coach Ralph
I am so incredibly sick of every single RUclipsr simply accepting any corporation's advertising.
Integza doing a Temp ad is a perfect example...
All they see is the sponsorship fee and 🤑🤑🤑
People are still advertising better help after all the bullshit that came out about them
Stop watching youtuber who do sponsor's then. You can search up any single other thing to do on the internet
I miss the old days when there were no sponsors. Nowadays it feels just like gaming after microtransactions were popularized.
If there's one thing that the pandemic taught me, if a RUclipsr is promoting it, it's most likely a scam.
Which scam from that time are you thinking of?
@@definingslawek4731 bruh did you already forget FTX? There were also a ton of rug-pull crypto scams.
The only thing I remember was the Trash NFT Scams 😂
Took the pandemic to teach you this? Dog it’s common sense and has always been.
Seriously… it seems like these people don’t have a shred of common sense. Like, why are you entrusting your money with these scummy RUclipsr’s?
"Your money is safe. You cannot lose."
Why actual real banks never need to say these words? 🤔
Real banks say fdic insured up to $250,000
Ah, the printing company got all the punctuation wrong... (Scribbles)
"You're Money. Is safe you cannot. Lose!
The only real financial institution involved in this isn't making twitter posts, they are providing court documents.
Cause 2008
but then if your government runs out of money that means nothing has happened to us twice
You know what I find most amusing about all of Coffeezilla's videos? The endlessly steaming cup of coffee.
Graham Stephen the same guy who told his viewers to put their money in FTX. Guy should be locked up.
Incredible how so many RUclips who also run podcasts, while renting out property, are just scummy people who just look at the money and not the people.
And voyager
Such a sleez
Shouldn't be locked up, he's just having a sponsored video, however his credibility should be non existent now considering he's done this twice, no idea how you could listen to a financial RUclipsr who has been involved in two large financial scams.
So many RUclipsrs taking sponsors without putting any due diligence in at all
Dude is some real estate guy who pivoted into personal finance, 90% of the time he has no idea what he's talking about
Graham Stephen always seemed like a snakes oil salesman to me
He is!
he seemed ok but then a lot of the financial influencers.... yeesh. lots of them were giving out advice that later screwed people with that bank collapse out west.
He promotes useful advice like "buy and hold the S&P 500" which most investment strategists will tell you is a reasonably safe bet, but it's usually attached to a video promoting some new crypto or real estate get rich quick scheme
He seemed better than a lot of these financial youtoubers but now......
He’s mostly okay, but you have to use a grain of salt
this is wild wild west. Two businesses arguing about why are there discrepancies in their ledger, no brainer someone has been stealing money.
Why would a bank steal more money tho??
@@Xpens To get more money into someones pockets. Don't think that rich people don't steal or professional athletes don't cheat.
It could also just be straight incompetence and not theft. Some moron didn't log in entries or lost paper work and they get stuck in this rut.
Synapse is to blame. The more important point is about silicon valley bank and fdic moving heaven and hell
I find it genuinely baffling that someone would take financial advice from a “bank” sponsoring RUclipsrs
Why is it that every time I see a scam video about RUclipsrs, Graham Stephan conveniently took one or several sponsorships from them.
Mr crabs voice: _money!_
His audience. He explains financial concepts in a easy way to be understood. So his audience is new to finance and "he can be trusted as he knows what he's talking about".
Because the scam companies pay the best to make sure they aren’t highly scrutinized. 😅
Finance products will sponsor fin youtubers its no brainer that all will sponsor Graham video
True xD
your work is unparalleled Coffeezilla. Not only do I learn so much from watching you. It's done is such a well, professional, and entertaining manner that keeps me coming back to see who's under fire next! Keep it up!
I've written my Congressperson and included your video link. I'm not involved with any of the entities, just tired of millionaires being bailed out while us commoners get the shaft.
Yeah they really care
Crazy how far Coffee has come. Over half a million views in 3 hours. This guy is a legend
A million in 5!!!!
He’s the good guy
Definitely has a wide reach
hopefully he never does a Mr. Beast and goes from beloved by everyone, to heel turn
We got Ralph Rolled
yeah wtf!!
same here! haha
Hey CoffeeZilla, I just wanted you to know that you and journalists like you are the reason that im going into the career field. Keep up the good work. You are bringing the bad to light and inspiring others to do the same.
It's really difficult, do you think others are reporting false , twisted , or news with blatant lies because they want to ? They can only publish what they are allowed, not what they want . Some of the scams he talked about were so big that many rich people were invloved ,like that crypto currency trading platform which got shut down a year back. Its valuation was some billion dollars
Screw Graham, Andrei, Kevin, Minority Mindset etc. All scammers and grifters.
I used to watch them, after FTX I haven't watched one minute of their videos.
Richard from The Plain Bagel seems to be the only honest one
@@aliasgur3342Patrick Boyle as well.
@@aliasgur3342 Shocker, plain bagel actually works in finance with the right education and licenses. This is the reason why we have professionals but now it seems everyone is a professional as long as they google hard enough.
I used to really like Graham a lot. He had some really solid advice, and it helped me get in the right mindset and put me on the right track financially. I stopped watching him eventually, right before he started pumping crypto and shelling garbage financial platforms like this one. Really sad to see.
If you’re rich, you get your money back, if you’re ordinary, you just have to suck it up, but who can actually afford to suck it up & who NEEDS it back?
the real question is who can afford to NOT suck it up? only the rich can afford the lawyers needed to see any real action happen; especially after all of your money is frozen in said bank.
Uhhhh, Coach Ralph and Channel 5 sent me here?
Me too!! That was weird
My Grahm got caught again in another scammy business after he said it would never happen again last year after FTX. Damn!
It will keep happening, year after year.
Not that I know the guy, but he's probably the type that will keep shilling scams as long as the money to do so keeps rolling in.
You'd think being someone who talks all the time about the financial system, they would have some solid understanding of the things they support and the risks involved.
So either they don't know what they are talking about, or they choose to ignore the risks.
Either way, maybe not someone you want to take financial advice from.
What’s crazy is that Adam, the founder, has been nepo’d into Wharton and all of his early jobs since he’s the son of Ken Moelis, the founder of one of the most prominent investment banks in the world.
Damn someone's staying in touch.
Would you suggest a form of corruption or suggesting that Adam's experience leaves him out of question?
I’m Adam’s boyfriend and you need to stop.
So crazy!!😂😂😂😂
omg his dad is a billionaire!!!!!! wtf!!!!
Not gonna lie, but this is the first time I'm hearing of this RUclips sponsor. Never new this online bank existed
Same. But then again, I don’t watch finance RUclipsrs.
Same, but the only financial RUclipsrs I watch are Plain Bagel and Patrick Boyle, who are more careful than most with sponsors
@@reid3031 Patrick Boyle rocks !!
@@reid3031Absolutely adore those two . That being said, would hate to be the subject of one of Patrick Boyles videos.
I watched an interview with the CEO of YOTTA on Graham's channel. Might have been the iced coffee hour.
Coach Ralph. You tha real mvp
Don't let influencers influence you away from your money.
That’s all they do.
And now, to today's sponsor.
Ra-
Better still, don't let influencers influence you in any way, at all, ever.
RUclipsrs? Promoting scams? This has never happened before!
It's not just youtubers. It's youtube itself as well. I couldn't even tell you the amount of scam ads on youtube's site that I've seen. I don't see them as much anymore because I use ad blockers but at least 70% of the ads I used to get were scams
If Warren Buffett wouldn't touch it with a pole, neither will I.
Buffett warned people about crypto "They produce nothing. They add no value.", - nobody listened. This is a different, but just as foolish bet.
99% of investors lost their ass, while the 1% pump and dumpers on the inside of the scams made bank.
A tale as old as financial scamming itself.
@@xerowolf4242 very true. RUclips benefits massively from scams
Coffeezilla's engagement is insane. He posts a video, and within 12 hours, half of his subscribers have watched it.
I'm doing my part in raising that number!
Man posts quality over quantity. Makes sense.
His quality is unmatchable
How about you engage in the topic then Mr bot? Or are you just farming likes?
@@lukekearney1704 what is bro yapping about?
Anyone who claims to be a business person who uses the word "pivot" is full of it. No exceptions. That is major red flag.
Where is Coach Ralph?
we got ralph rolled
@@butterman0007 the way back machine will show you the old site
"You can't lose"
immediate red flag right there. Anytime someone tells you that, they're trying to scam you. You can always lose *something*
A good example of “If you’re being offered a free product, you are the product”
And in a scenario where you actually can't lose (eg you open a current account with Chase) it's not something that needs to be marketed.
@@laszlo3547or in cases where the bet is always that you win (in cases of betting with friends) it simply means that they're getting something out of it that they'd consider the trade off of losing as a win. Simply put, the house always wins.
@@legallyrequired And "If it looks too good to be true, it probably is a great opportunity to jump in with your life's savings". .. Hmm, something felt off about that one. May edit later.
Free cheese is only offered at mousetraps.
I'm a small owner in a bank, it's called a federally insured credit union!
Not based enough bro you need to maximize your hussle. Steal from children if need be, fcu is old school. Get into cyber crypto gaming banking nft timeshare coins.
@@Blastinonfoos And banking regulation or insurance just slows you down. You gotta innovate, disrupt. Move fast and break things!
@@Blastinonfoos Except an FCU isn’t a scam.
@@Blastinonfoos timeshare coins sounds exciting!
@seand5942 don't forget reselling prime energy drinks lol.
Graham Stephan YET AGAIN pushed this stuff. There's something about him that stikes me as off.
Little men will do anything to get ahead
hes a real estate leech, that is all you need to know
@@Bidenmytimenooo 😢😢 I'm 5'4"
He’s a scammer. The lying is what you’re picking up on.
@@andybaldman never watch Graham but every time I see his clip on any yt channel there is something that always made me feel something was off about him. I guess it the things that he said wasn't something that he truly believed in but he just trying to get as much sponsor as possible without doing too much research on what he is promoting.
Yotta's CEO: Well they can't take their money out because yotta yotta yotta, and that's the reason, perfectly legal.
It's not the people that lose 100.000 USD that will worry about this the most. It's the people who lost 2.000 USD - their last 2.000 USD.
Exactly.
If $2 breaks you, I do not know why you try to invest it.
Just what I was thinking they’d be in chase or something else
@@thecircuitbox OP made a grammatical mistake, it should be a comma, not a full stop. It's $2K. The third zero should tip you off.
@@thecircuitbox They are saying two thousand dollars. Yotta was not marketed as an investment; it was marketed as a savings account. It is perfectly reasonable to place your last two thousand dollars into a savings account.
Homie who had the 500 bucks frozen looked devastated.
m8 i broke a $100 worth of keyboard components and I'm devastated.
He probably needed it the most if thats all he had
The people that have the least stand to lose the most
Probably all he has, man. I was sitting here like, "damn I wish I had that much to save!" Sad, these people's hard work just stolen from them.
You shouldn't invest or trade with money you can't afford to lose. That guy had a wedding deposit and was going to buy a home etc. You're not getting very far with either of those things with $500. Either way IMO he's quite lucky that's all he put in there..
Basically, if a "youtuber" promotes something, I stay far away from it... Good life advice :)
So either you only own incredibly cheap and unknown electronics, or you're lying. Cause basically any phone/computer/console is promoted by a RUclipsr in some way
@@BeeTheBeedumb comment you made there.
@BeeTheBee it's very obvious thats not what they're saying
@@BeeTheBee probably meant anything like financially promoted. Id say phones and stuff are a little different than an investment platform.
@@BeeTheBeegenerally, if a company is willing to spend so much money on advertising, the company won’t be spending that money actually making a good product. i like to watch ads so i can find a similar company that doesn’t dump all their money into advertising.
My general rule of thumb is that if it's being promoted on RUclips or TikTok, it's straight garbage.
Graham Stephan’s fall has been generational. I used to love his videos
Nah man he always seemed shady to me
Not saying i'm smart, others might/may fool me, but nah not Graham
Do you mean you didn't make a fortune making $.25 iced coffees...?? Do tell??
Samee, he fell off 3 years ago
he didn't "fall off" saying he's falling is just old fan's trying to act like they didn't used to be into a man who's always been a skeevy grifty sort of guy. You used to love skeevy scammy videos. They've not gotten worse, he's not changed morally, you've changed. You used to love awful amoral videos and now that you see that we see he's a bad person you gotta act like he wasn't when you loved his work.
@@HarringtonsApocy Well said, actually.
Graham's next video: "How I made 100 million dollars" and its just him giving the advice of "keep working hard" and selling his self "help" book, that is just quoting studies that were already in other dozen self "help" guru books.
Do anything except unionize with your fellow poors. You personally can get rich so you don't have to think about how everyone else is getting ever more screwed.
@@Praisethesunson unfortunately we need more than that. Unions will help but we are nearing gilded age levels of inequality and political influence from the top 0,01% and us just not getting screwed in our work won't be enough.
@@NotADunconyou’re absolutely correct that we need more than unions. But we need to start somewhere. Unions are the easiest and most direct form of action that the average person can get behind.
Once they’re behind it and understand the concept, then we can progress the conversation towards larger actions
This is like saying "I took your money and deposited it into my bank account, which is FDIC insured.. so your money is safe". If you don't control the account, it's not your money anymore.
Pretty much the entire fintech space is like this. The only legitimate "fintech" is just making traditional banking and finance services easier to access electronically, which traditional real banks and firms already do.
"Innovative" ought to be considered a swear word when it comes to finance, the only things you can "innovate" in finance are creative ways to commit legal fraud
Here's the neat part. Money in your bank account is not yours either. It's the bank's money. They just owe it to you.
@@TheBitcoinExperience Nobody has ever lost money in an FDIC-insured account due to bank failure in the US since the program was created nearly a century ago. Not even regular private citizens.
Whereas countless people have lost money to crypto exchanges, exploitative "fintech" bullshit, and other quasi-legal grifting this year alone.
Here’s the actual scam: a group of rich kids found a way to launder money by acting out a scam where they “lose” money. The fall guy isn’t even falling as he can hide behind user agreement. It’s a win win, right?
Crazy that they can call themselves a bank. In the UK you would never be allowed to market yourself as a bank if you're just an e-money firm.
All banks are scams anyway. Basically loan sharks.
Revolut literally does that
@@MaxNeck Not in the UK. Their banking license is in Lithuania, they're trying to get an Irish one. They famously cannot get a UK license.
I stopped watching Graham Stephan years ago. Something didn’t sit right with that guy.
All those dudes. Him, Andrei, Meet Kevin, etc etc
They're all just hucksters and shills
Exactly! Super bad vibes that feed on desperation
ya.. i'l tell you what that feeling was.. its the fact that someone who claims to be a "real estate investor / finance guy" makes more money from youtube than anything.
thats not a good thing.
Like imagine your doctor makes more money from peddling pills than actually being a doctor.. you might not trust them
His big head on that little body?
He has the personality of the whiney kid in middle school. His voice is pure beta and his arrogance is higher than the pitch of his voice
"shill a vpn"
If that's not the most youtube sounding phrase I've ever heard in my life, I don't know what is.
Just the other day, SomeOrdinaryGamers was saying that VPN is the riskiest sponsor coz a shady VPN could be peeping everything you do.
So that too isn't a safe sponsorship choice to push blindly
The difference is that shilling a VPN doesn't potentially cost your viewers thousands of dollars.
@@dodgechance4564 Potentially that depends on what data they're selling and with what data those people trust their VPN.
Ya it's only risking the keys to the kingdom which could lead to identity theft or worse, no big deal
@@IbrahimDarCo SomeOrdinaryGamers... You mean the guy who promoted Established Titles?
Gee I wonder why he's so keen to say that other sponsors are shady.
Coffee, you’re doing a fantastic job mate, please keep doing your thing. We need more morally responsible people like you to give social media its much needed checks and balances!
Oh shit I remember friends of mine getting into Yotta because of Markiplier's Ad Sponsor.
"Yeah, Mark doesn't get scammed, he's smarter than that, so if he says it's fine I'll trust him"
I wonder if they got their money out.
maybe im from an alternate dimension but im pretty sure mark HAS gotten scammed before! i hope it wasnt too much lost!
didn't he also say that he put money into this scam too? like he used it as a bank himself? i think thats where a lot of his subs followed through
Graham Stephen went from one of the most trusted and respected finance RUclipsrs to promoting FTX and Yotta... wow
his reputation was a pump and dump scheme from the beginning
I first came across his content like... 3 years ago, and he was already shit promoting overleveraged positions with no account to risk. Haven't checked since
It makes me worried about Caleb Hammer, he does a lot of colabs with Stephen.
@@IlovepoopinCaleb hammer is already trash lmao
Who needs respect and admiration when you've got money baby! 💵💵💵
I love when companies accuse each other of causing the problem when all they need to do is work together and find a solution
be years
There’s 10s of millions of $$$ on the line. ($150m according to evolve). They are financially incentivized to blame each other as much as possible. Horrible for the actual people stuck in the middle.
There is no solution the money is gone.
They will need to do a full audit of every transaction between all parties (including customers deposits and withdrawls) starting from the point that their balances all agree to now to find the discrepancies. This should be done by another company that is neutral and has no ties to any of the parties involved. It is tedious but isn't that difficult to find the discrepancies the issue is going to be figuring out exactly what caused it and where the funds actually went.
@@chrismiller5940 I believe those people you refer to are called "auditors". It's a pity that their own auditors spent the last two years in suspended animation on the planet Klarnfurgle.