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youtubers get called out in bank disaster (Patreon)

Published:
2024-08-16 17:51:17
Imported:
2026-06
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I got sent court documents where YouTubers were called about by name by victims of a banking disaster, featuring YOTTA / Evolve / Synapse.

It’s a reminder that once again, we should not have influencers promoting financial products. It’s also a heartbreaking story that needs more light shed on it to hopefully expedite what has been such a horrific process for the victims.

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youtubers get called out in bank disaster

support: patreon.com/coffeezilla

Comments

Hans

When coffee starts a video saying he will be petty it's gonna be a good video.

Ada MC

Coffee, I was wondering if you could cover the recent decision of fraud charges being dropped or dismissed for the Finfluencers that were charged by the SEC. You covered it before and I think Patrick Boyle covered the court decision some weeks ago. It's wild to me that the judge believed that because they basically were obvious in the scheme, that it somehow means they never misrepresented what they were doing. I know that's a oversimplification but I loved your take on this.

BagelRun

I’d love to hear about your ideas for changing government’s role/functioning to stop scams and these kind of messes from happening in the first place… and when they do happen how can they respond faster. The scam scourge are spreading far faster than they are being addressed

Jake Zukowski

Good for you for holding Influencers and YouTubers accountable to their audiences. Knowing what we know now about YOTTA, these folks should be apologising to their audiences for leading them astray.

Da Kindsé

wohooo, new video of my favourite youtuber :)

Mike Gervasi

I vaguely remember Yotta. I have no skin in the game. However would you want to potentially be the only person to publicly speak about it? "Victims" would immediately jump on you whether they got involved because of you or not. "You're addressing the issue and listening? Then I'm gonna unload my anger on you".

Mike Gervasi

Was there some sort of fine print about FDIC coverage that said "We don't cover defamation"? ;)

Toledo Terps

Why would VPN be different? I see it the same as this. People being sold products claimed to keep their lives secure. Someone selling it should have some sort of background in it. How is having your money locked away when you’re told it’s safe any different from having your live packets claims to be locked away when you’re really being mined for data? Or heck, even Kevin hart shilling credit cards. There needs to be freedom to pitch what you want, but accountability of the pitch itself. Banking shouldn’t be treated like it’s special. Hold everything to that same standard. It makes no sense not to.

IzzyDeadYet

I was a stockbroker back in the 90s- Worked with a bunch of guys who had previously worked with Jordan Belfort selling penny stocks- All this stuff is just the new age of penny stocks.. All these scams are the exact same scams people were doing on the pink sheets in 1992- There is nothing new and innovative about these scammers- the tools have changed but the grift is exactly the same

Armīns Blūms

Yoo, what is up Logang is what comes to my mind.

Armīns Blūms

I know why, if you made such a bad call as a finance youtuber, what's the point of your advice in general, especially if you self-report on it to your audience.

Letcha B

The crazy thing is that if you didn't continually deposit into Yotta, they would fine your account for no money flow. I feel terrible for those who lost. I'm just glad I pulled out my money after they swapped to gambling your tickets. I did not like that a person could lose tickets and win nothing. Straight fucking gambling. Before, you only lost tickets if they won. Then it switch to stacking them on 2x, 5x, 10x. Win, then win big. Lose, then lose all stacked tickets.

Justyna Sto

Have you heard about Revolut? It seems that they have too much money for comertials.

Snapcase

Good callout about not listening to youtube influencers for financial advice. Now I only listen to Larry David and Jim Cramer.

Tim Davis

Coffeezilla is the most feared man in crypto.

LykeItorNot

Woohoo! Love the pettiness, keep it coming!

FerA

FDIC insurance is a fund. If there is a banking license somewhere, they can claim it. What’s probably happening is fraud. The tax payer should not pay for fraud.