npub16p…hpcrp on Nostr: I don't think this story is getting the kind of play that it should, but all those ...

I don't think this story is getting the kind of play that it should, but all those startups offering "High Yield Savings Accounts" at wildly high interest rates (currently usually ~4.5% APY) are probably not safe places to stash your money.

This sucks, because I'd really, really like a depository account with a decent interest rate for my emergency fund, but that is exactly the kind of fund that needs to be in a place that the FDIC agrees they actually support.

https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html