> despite misleading promises of FDIC insurance I never really understood why people thought this was misleading. FDIC insurance would insure against the under

> despite misleading promises of FDIC insurance I never really understood why people thought this was misleading. FDIC insurance would insure against the underlying bank failing, not Yotta or their fintech partners. I never saw any marketing material claiming that Yotta (or their fintech partner: Synapse) was a licensed bank.