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youtubers get called out in bank disaster

🕑 Added 2024-08-16 17:51:17 +0000 UTC

Comments

Fernanda Alario

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.

James Jones

the zilla strikes again

Jessica Jeffery

Was this video unlisted?

LykeItorNot

Woohoo! Love the pettiness, keep it coming!

Tim Davis

Coffeezilla is the most feared man in crypto.

Snapcase

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

Justyna Sto

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

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.

DTM

What 'archaic law'? The one that says you can't lie about being FDIC insured?

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.

Armīns Blūms

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

StreetsAhead

that's odd behavior

James Jones

Nailed it!

Stephen Mortimer

STOP WITH THE WEIRD !!

Toledo Terps

Your argument is a legal argument. The opinion CZ presented was based on morals throughout the video. Archaic law is not an excuse for immoral conduct. Pitching both produce the same harm so… yeah.

IzzyDeadYet

FDIC stands for Federal Deposit Insurance Corporation- It is reserved for only the most secure investments- Pretending you are FDIC Insured is the most blatant and easily exposed lie ever. Those people need to be locked up forever.

IzzyDeadYet

its actually very different- Financial Instruments aren't supposed to be sold by people who aren't registered and licensed- The regulations for all these jokers haven't caught up yet, but they will- You would be amazed at how many slimy penny stock brokers just moved into this and repackaged the same crap.

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

Toledo Terps

You *obviously* are ignorant and that’s understandable. It’s just as complicated to understand as our modern financial systems. I still disagree with CZ in that shilling something that handles any personal / private data is acceptable without accountability. It should be viewed and treated the same as it should be with anything financial. It doesn’t detract from the issue. It simply disagrees with his opinion. If you don’t like that, that’s fine, you cool yourself ✌️

DTM

From Wikipedia: "Bank regulation in the United States is highly fragmented compared with other G10 countries, where most countries have only one bank regulator". That is part of the problem. Leads to regulator jurisdictional paralysis.

DTM

Cool it with the whataboutism. Promoting a fintech pretending to be an FDIC insured bank is obviously more harmful than promoting a paid VPN. Paid VPNs don't 'mine data' by the way. How could they? Most connections are already SSL secured by now. Some paid VPNs do keep data safer as well by integrated ad blocking etc. Free VPNs, like the one Facebook used to offer, are obviously a different animal and often a scam.

Mike Gervasi

Because it wouldn't just be people who lost money. People bashing Mr Beast aren't all people who got scammed. I think you're missing my point which is no one person who promoted it is going to post about it as it would bring down ALL the focus of fury on them. Now this is of course benefit of the doubt. They also may not be posting about it because there's no guilt with scammers.

Branden Lange

Why quote "victims"? That's what they are. Also, how much of an asshole do you have to be to refuse to apologize for advertising something that ruined people's lives just because you're worried some of them might be mad at you about it? If doing the right thing was the easy path, Coffeezilla would be out of a job.

KnockKnockitstheKGB

Coffee out here putting work

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.

Mike Gervasi

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

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".

Da Kindsé

wohooo, new video of my favourite youtuber :)

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.

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

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.