I'm glad you are actually talking about this subject. AskSebby is trying to hide/ignore the fact they he was a Yotta bank investor/promotor, even before Graham Stephan. In fact, it was his video that that led me to open an account with Yotta back in 2020. His videos on Yotta are now deleted and he is deleting my comments asking for him to do an update on the situation. Fortunately, I pulled the last of my money out Yotta in March after I saw the writing on the wall with them.
I’m glad you were able to get out when you did! A lot of folks maybe didn’t see that writing at all! I felt it back maybe a year ago I think? All around SVB issues etc. But still didn’t think there’d be any issues. Thank you for being here Flint!!
Very good video. I had only heard about Yotta in passing and never studied it. I am glad you were able to get the good out of Yotta before things went down. Loved the Curve play.
Absolutely Dameyon hahaha, yep I’m glad to get it while the going was good. Curve card came in really clutch! Thanks again Dameyon man for being here as always!
I mean pretty much, there’s some banking issues behind the scenes beyond Yotta so nobody is really blaming them anymore, it’s Evolve bank and their partner etc but it sucks for the consumer either way. Thanks Belle!
I hated the changes they made back in March. At that time, I withdrew most of my cash from the account. The only reason I didn't close it out completely is because I was flipping T-bills with that account and a few more were coming in. That used to be another form of taking advantage of them because at one time, they counted it as direct deposit (which means it was eligible for free tickets and - or cash rewards), just like direct deposit pay checks, but that stopped after they introduced Sailor status and realized that made hitting their direct deposit status goal way too easy. I did get it once because of that. So yeah, I do still have some money in there.
I had a couple of grand in Yotta back. I cashed out at the end of last year when the effective returned droppes again and I could make more money elsewhere. Guess I lucked out.
Appreciate you sharing this cautionary tale. I think it's fine to take advantage of these unique fintech programs, but only if your exposure if small enough that you wouldn't mind losing it. I was one of the Blockfi victims and while the money that I put in there was nowhere near life-changing, it still was a bit too much for comfort. Lesson learnt there for sure.
Absolutely Monty, it is probably horrible for a lot of people right now, so I’d hate for the scammers to make it worse, I’m glad I talked to that guy about it. And yep, Block Fi was HUGE, promising 8% returns risk free, very wild and hindsight is 20/20. Sorry that happened to you man, that really sucks but it happens to all of us at some point in this day and age. Thank you Monty man for being here.
Yes absolutely, seems like everyone ends up learning the same lessons we did from 2020 😬 At least it’s not these bigger fintechs like Sofi or Wealthfront, if something happens there, I know people for sure have their entire life savings with them. It’s horrible either way, thanks Xavier for being here man as always! And you had my laughing last night on Joes live 😂
Thank you Juan! Yes especially the DM scammers that might be out there like I mentioned, for sure want to get that out there. Thanks again Juan for being here!
For sure, I’m with you Sui! More so just banks or startups that couldn’t possibly handle heavy economic conditions, worth keeping your life savings in a safer and larger institution I think.
I usually avoid rushing into new platforms and services especially when it concerns my money. Most fintechs are trash and usually make rapid changes after discovering the models don't work or in this case depending on a third party whose own business model is shaky at best. I watch some financial TH-camrs as entertainment at best and never for "advice". That's just the grizzled old man in me shouting for the kids to get off my lawn....
See and I think you have the best approach, caution first, and for sure there are some people to watch to only be entertained, some to learn from and build it upon your worldview etc. Totally agreed with you and don’t worry, I’ll shout with you on the lawn 😂😂😂 Thanks Frugal Dad for being here as always man!
Unreal! Yes I couldn’t find the right timeline but I guess I was right when I stopped getting daily prizes. That’s crazy, I’m glad you got mostly out though. Thanks for being here Kenny!
i’m interested to know if it’s not too personal why are you invested any money into the bank? I missed all of the adverts I saw Asmongold’s video and coffeezilla. What was the deal? Was it a casino? Did they offer you extra money? Like I said? I’m just curious all the best and I’m glad that it’s only $30.
You made me take a hard look at my sofi acct. It's not looking good. Thinking about canceling my acct and moving the money over to a big bank for the time being
Absolutely, there are some supposed credit crisis event, not sure how or if I believe it, but takes very little for someone like this or Silicon Valley to happen to these smaller banks. So might be worth getting slightly lower returns like Capital one 3%+ and to have a safer storage. Thanks Woodzy man, yes I agree with you.
@AnthonyVenture I was thinking more along the lines of splitting what I have and getting the 30k amex business checking and $300 chase business checking for now. Amex also has a high yield savings account that doesn't have a bad return. Another idea was penfed. Getting a good relationship with them, that way I have one of the better car loan lenders in good graces plus they have a 3% as well. I researched sofi, and they have a 78% chance of bankruptcy right now, but Motley fool says they are one of the safer options right now and have really diversified how they make money. Idk so much conflicting info. In the end, I feel there is a high risk in sofi due to high debt ratio. Guess I need to figure out how to move over my investment portfolio with them to either JP Morgan or Charles Schwab since I have existing Investments with them.
My guess is economical constraints leading to and exposing weak companies, thus more and more this happens. This happened during 2020 as well prior to stimulus unfortunately. Thanks Styx!
Yep I can see that. I usually split between 2-3 accounts just in case. But you’re right, want that emergency fund where you can’t get to it unless you really need to. Agreed!
Honestly what we did was just put our money in Capital One 360 Savings which gives 4.25% right now which I think is pretty good! So I’d go with them since it’s a much bigger bank with better measure of safety in place. Thanks Aaron!
Sounds like the SEC needs a lawsuit for failing to protect consumers against misleading financial products. How can an institution operate as a bank and not be a bank? They sell isterest checking accounts with debit cards but arent a bank, i dont think so.
RIP lol. I know I’ve commented on Yotta before. I made over $5000 on Yotta in 1 year. Some of what I was doing was probably a little sketchy and frowned upon 🤷🏻♀️
Damnnn $5k??? How so, with the paying your rent or just daily lottery, or even the free swipe? That’s wild, well you and me both then haha, really sucks none of that is possible anymore and they went to the dark side. Thanks for being here Kevin!
Yeahhh I forgot about that, for sure be careful with that account I’d say and any other of the like with very little cushion for failure. Sucks with a lot of these, not public and can’t look at balance sheets etc. Thanks Matt man for being here!
Why would anyone put most of their cash with these new Fintech options? You are supposed to be a calculated and strategic credit card youtuber. Building relationships with real banks to reap rewards. Following grifters like Graham after the FTX fiasco? 😂
I mentioned I joined Yotta like 3+ years ago, this was before anyone even heard the name FTX. And I only put a few hundred to take advantage of the card. But I agree, you shouldn’t put most of your money, albeit, not even 5% into these Fintechs that aren’t guaranteed, BlockFi + FTX were the best examples I think.
I don’t think inherently up until a few months ago when they introduced gambling, some stuff must have happened behind the scenes I bet since it was so sudden. Hopefully they resolve whatever and people can get access to their money again. Thanks Keith!
@@AnthonyVenture lottery, gambling, and savings are diametrically opposed and they don’t belong together as a product. They’re distracting from the actual savings product itself.
@@Adiscretefirm100% - to add, shouldn’t be keeping large sums of money in any of these startups/Fintechs unless you don’t mind that % of money to be locked in a liquid credit crisis event. Thanks Adiscrete!
Rip Yotta 😢
Let’s keep the conversation going! Join the Venture Capital Discord🤖: discord.gg/R8kMzqneVk
That's pretty crazy about Yotta. Wow. Thanks for the info + video!
Yeahhh it sucks they pivoted, could have kept being great. Thanks Jimmy James man for always being here!
I'm glad you are actually talking about this subject. AskSebby is trying to hide/ignore the fact they he was a Yotta bank investor/promotor, even before Graham Stephan. In fact, it was his video that that led me to open an account with Yotta back in 2020. His videos on Yotta are now deleted and he is deleting my comments asking for him to do an update on the situation. Fortunately, I pulled the last of my money out Yotta in March after I saw the writing on the wall with them.
I’m glad you were able to get out when you did! A lot of folks maybe didn’t see that writing at all! I felt it back maybe a year ago I think? All around SVB issues etc. But still didn’t think there’d be any issues.
Thank you for being here Flint!!
Never jump to brand new toy; when something is good too be true, it’s too good to be true!
Absolutely Agreed Neno, it’s simple, but would help a huge % of the population!!
Very good video. I had only heard about Yotta in passing and never studied it. I am glad you were able to get the good out of Yotta before things went down. Loved the Curve play.
Absolutely Dameyon hahaha, yep I’m glad to get it while the going was good. Curve card came in really clutch!
Thanks again Dameyon man for being here as always!
Wow, great message and thanks for sharing all the screenshots and stories!
Glad you’re wife’s account is safe
Thank you Key 🔑 for that and agreed, good for people to know to be safe just in case!
Sounds like the bank scammed you if you put your real money in there and can’t pull it out.
I mean pretty much, there’s some banking issues behind the scenes beyond Yotta so nobody is really blaming them anymore, it’s Evolve bank and their partner etc but it sucks for the consumer either way.
Thanks Belle!
I hated the changes they made back in March. At that time, I withdrew most of my cash from the account. The only reason I didn't close it out completely is because I was flipping T-bills with that account and a few more were coming in. That used to be another form of taking advantage of them because at one time, they counted it as direct deposit (which means it was eligible for free tickets and - or cash rewards), just like direct deposit pay checks, but that stopped after they introduced Sailor status and realized that made hitting their direct deposit status goal way too easy. I did get it once because of that. So yeah, I do still have some money in there.
I had a couple of grand in Yotta back. I cashed out at the end of last year when the effective returned droppes again and I could make more money elsewhere. Guess I lucked out.
Glad you got out, bad situation, I hope it gets rectified soon for anyone else who has it locked in.
Thanks Johde and Boy Blue!
Good video Anthony 👏. Shout out to the viewer for the headps up. "Protect ya Neck!" 🧐🤔🤺
Thank you Michael sir!! Absolutely shout out to him. Yes, Wu Tang said it best!
Appreciate you sharing this cautionary tale. I think it's fine to take advantage of these unique fintech programs, but only if your exposure if small enough that you wouldn't mind losing it. I was one of the Blockfi victims and while the money that I put in there was nowhere near life-changing, it still was a bit too much for comfort. Lesson learnt there for sure.
Absolutely Monty, it is probably horrible for a lot of people right now, so I’d hate for the scammers to make it worse, I’m glad I talked to that guy about it.
And yep, Block Fi was HUGE, promising 8% returns risk free, very wild and hindsight is 20/20.
Sorry that happened to you man, that really sucks but it happens to all of us at some point in this day and age.
Thank you Monty man for being here.
Gotta be careful these days. Thanks for the info 👍🏼
Yes absolutely, seems like everyone ends up learning the same lessons we did from 2020 😬
At least it’s not these bigger fintechs like Sofi or Wealthfront, if something happens there, I know people for sure have their entire life savings with them.
It’s horrible either way, thanks Xavier for being here man as always! And you had my laughing last night on Joes live 😂
@@AnthonyVenture last night was a great time 😂👍🏼
Nice video Anthony. Not familiar with Yotta. Cautionary lesson.
Thank you Juan! Yes especially the DM scammers that might be out there like I mentioned, for sure want to get that out there.
Thanks again Juan for being here!
idk if i'd be worried about small banks but small fintechs yes.
For sure, I’m with you Sui! More so just banks or startups that couldn’t possibly handle heavy economic conditions, worth keeping your life savings in a safer and larger institution I think.
RIP Yotta. That daily drawing gave me my daily boost of serotonin. Guess I yotta go buy real lotto tickets now 😔
Hahaha, yes me too. It was great while it lasted, and no don’t start buying Lotto where the Motto is “you can’t win” 😂
Thanks for being here Cait!
@@AnthonyVenturebut you hadn't won with Yotta either.
@@chrispham6599 Yes I had. What do you mean?
I usually avoid rushing into new platforms and services especially when it concerns my money. Most fintechs are trash and usually make rapid changes after discovering the models don't work or in this case depending on a third party whose own business model is shaky at best. I watch some financial TH-camrs as entertainment at best and never for "advice". That's just the grizzled old man in me shouting for the kids to get off my lawn....
See and I think you have the best approach, caution first, and for sure there are some people to watch to only be entertained, some to learn from and build it upon your worldview etc.
Totally agreed with you and don’t worry, I’ll shout with you on the lawn 😂😂😂
Thanks Frugal Dad for being here as always man!
yes end of January 2024 i noticed I was no longer getting daily prize. I pulled most of my money out in Feb. Still have $28.35 locked in the app.
Unreal! Yes I couldn’t find the right timeline but I guess I was right when I stopped getting daily prizes. That’s crazy, I’m glad you got mostly out though.
Thanks for being here Kenny!
i’m interested to know if it’s not too personal why are you invested any money into the bank? I missed all of the adverts I saw Asmongold’s video and coffeezilla.
What was the deal? Was it a casino? Did they offer you extra money? Like I said? I’m just curious all the best and I’m glad that it’s only $30.
I did the exact same thing when I noticed the numbers didn’t seem to add up anymore
You made me take a hard look at my sofi acct. It's not looking good. Thinking about canceling my acct and moving the money over to a big bank for the time being
Absolutely, there are some supposed credit crisis event, not sure how or if I believe it, but takes very little for someone like this or Silicon Valley to happen to these smaller banks.
So might be worth getting slightly lower returns like Capital one 3%+ and to have a safer storage.
Thanks Woodzy man, yes I agree with you.
@AnthonyVenture I was thinking more along the lines of splitting what I have and getting the 30k amex business checking and $300 chase business checking for now. Amex also has a high yield savings account that doesn't have a bad return. Another idea was penfed. Getting a good relationship with them, that way I have one of the better car loan lenders in good graces plus they have a 3% as well.
I researched sofi, and they have a 78% chance of bankruptcy right now, but Motley fool says they are one of the safer options right now and have really diversified how they make money. Idk so much conflicting info. In the end, I feel there is a high risk in sofi due to high debt ratio. Guess I need to figure out how to move over my investment portfolio with them to either JP Morgan or Charles Schwab since I have existing Investments with them.
Whats with all the tech scams collapsing recently? Its been one after another. Theranos, Silicon Valley bank, FTX, Yotta, etc.
My guess is economical constraints leading to and exposing weak companies, thus more and more this happens. This happened during 2020 as well prior to stimulus unfortunately.
Thanks Styx!
Good things always get ruined.
Given a long enough time horizon, yes unfortunately.
Thanks Shawn man!
I am done with Yotta. Should have given them the boot back in March when they changed everything.
What do you have locked up if anything?
That sucks, I hope they figure this out soon.
Thanks for being here Kent!
@@AnthonyVenture I didn't have much just a couple hundred. I using it as an emergency fund. I'm using another bank now.
@@KentPetersonmoney That’s good then, and makes sense.
@@AnthonyVenture I try to keep my emergency fund separate from my main bank account so that I don't end up sending it.
Yep I can see that. I usually split between 2-3 accounts just in case. But you’re right, want that emergency fund where you can’t get to it unless you really need to. Agreed!
Yotta Know it’s a scam if it seems too good to be true or if they’re gamifying finances
I remember watching your previous video on this topic, yotta yotta yotta, I'm out $6k.
I know you’re joking Gabe, but I’m sure a lot of others appreciated the reference 😂😂😂
Thanks again Gabe for being here!
So where do I put my money for high interest (hysa) I currently use Wealthfront but all this news is making me skeptical about these fintechs
Honestly what we did was just put our money in Capital One 360 Savings which gives 4.25% right now which I think is pretty good!
So I’d go with them since it’s a much bigger bank with better measure of safety in place.
Thanks Aaron!
Or Apple Savings, or Citi….or just buy SGOV.
Sounds like the SEC needs a lawsuit for failing to protect consumers against misleading financial products. How can an institution operate as a bank and not be a bank? They sell isterest checking accounts with debit cards but arent a bank, i dont think so.
Im sure they have work arounds for things like this. I’m with you though. Not sure how that all works.
Thanks Mich!!
Oh no, Anthony’s scheme broke Yotta 😢😢. Why did you have to touch Yotta Anthony? Whyyyyyyyyyyyyyy?!
First the Waldorf, now Yotta. I’m a JINX!
Haha, thanks CJ man!!
@@AnthonyVentureand the curve card with Bilt
That was Calby hahaha. I somehow went under the radar.
RIP lol. I know I’ve commented on Yotta before. I made over $5000 on Yotta in 1 year. Some of what I was doing was probably a little sketchy and frowned upon 🤷🏻♀️
Damnnn $5k??? How so, with the paying your rent or just daily lottery, or even the free swipe?
That’s wild, well you and me both then haha, really sucks none of that is possible anymore and they went to the dark side.
Thanks for being here Kevin!
@@AnthonyVenture lots of free swipes but I’ll message privately so I don’t out myself haha
I don’t blame you haha, sounds good!
AnthonyZilla?
CoffeeVenture?
CoattailRider?
Godzilla is the only name. And he’s gone now 😢
Thanks Ritchie man haha!
You can't loose, except if all your life savings are frozen...
Oh yeah, I meant prior to like 6-12 months ago, couldn’t lose. Nowadays, you only lose honestly.
Thanks Draccus!
*checks my Tellus Account* Hmmmm. No Fraud here.
Yeahhh I forgot about that, for sure be careful with that account I’d say and any other of the like with very little cushion for failure.
Sucks with a lot of these, not public and can’t look at balance sheets etc.
Thanks Matt man for being here!
@@AnthonyVenture less than 4 grand in there. But 70 cents a day…
Yep you said, not a bad return on $255+ per year at all!
FIRST?!
Very nice damn!!!! Nice Cait!
Why would anyone put most of their cash with these new Fintech options? You are supposed to be a calculated and strategic credit card youtuber. Building relationships with real banks to reap rewards. Following grifters like Graham after the FTX fiasco? 😂
I mentioned I joined Yotta like 3+ years ago, this was before anyone even heard the name FTX. And I only put a few hundred to take advantage of the card.
But I agree, you shouldn’t put most of your money, albeit, not even 5% into these Fintechs that aren’t guaranteed, BlockFi + FTX were the best examples I think.
Smells like a scam.
I don’t think inherently up until a few months ago when they introduced gambling, some stuff must have happened behind the scenes I bet since it was so sudden.
Hopefully they resolve whatever and people can get access to their money again.
Thanks Keith!
@@AnthonyVenture lottery, gambling, and savings are diametrically opposed and they don’t belong together as a product. They’re distracting from the actual savings product itself.
Yes exactly, once they made that addition a few months ago of gambling, I think we all saw the writing on the wall for this company to ruin itself.
Shouldn’t be encouraging bank runs bro. Super irresponsible
Can't run a "bank" that has already frozen withdrawals
@@Adiscretefirm100% - to add, shouldn’t be keeping large sums of money in any of these startups/Fintechs unless you don’t mind that % of money to be locked in a liquid credit crisis event.
Thanks Adiscrete!