4 ms·
The overall recovery rate apparently is higher (like 70%?) and any shortfall at all is odd and requires an explanation. The reference to 99.8% shortfalls is rel
by unyttigfjelltol 2y ago
The overall recovery rate apparently is higher (like 70%?) and any shortfall at all is odd and requires an explanation. The reference to 99.8% shortfalls is related to Synapse being the record keeping system for deposits and failing to keep those records in a way that is reasonably accessible now that the company is in bankruptcy. So, anyone relying on missing records functionally has zero recovery because there are no records.
- daft_pink 2y agoSo you are saying that most people got 70% of their money but the school teacher that deposited 280k and was left with $500 is a unique case for some reason? This is what I don’t grasp, how do you signup for 0.2% interest and then 99.8% of her funds are missing? This seems like a Ponzi scheme not a bank failure with terrible interest rates.