Helvede

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⚯ Michel de Cryptadamus ⚯oh look, another <a href="https://universeodon.com/tags/fintech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#fintech</a> bankruptcy involving Evolve Bank & Trust.some other fun places Evolve has popped up:1. issuer of <a href="https://universeodon.com/tags/FTX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FTX</a> and <a href="https://universeodon.com/tags/BlockFi" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BlockFi</a> debit cards (before those companies blew up and customers lost all their money) 2. <a href="https://universeodon.com/tags/GeorgeSantos" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#GeorgeSantos</a> and <a href="https://universeodon.com/tags/AndyOgles" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#AndyOgles</a> held their campaign money at Evolve 3. <a href="https://universeodon.com/tags/Synapse" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Synapse</a> bankruptcy which cost customers of a bunch of fintech "banks" like <a href="https://universeodon.com/tags/Yotta" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Yotta</a> most if not all of their money 4. Partnered with "anti-woke" fintech <a href="https://universeodon.com/tags/GloriFi" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#GloriFi</a> 5. Got hacked by Russia midway through Synapse bankruptcy proceedings 6. Anonymous crypto debit card issuer for <a href="https://universeodon.com/tags/ZELF" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ZELF</a> 7. Frequently found to be the bank used by <a href="https://universeodon.com/tags/pigbutchering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#pigbutchering</a> fraudsters 8. Sanctioned by federal reserve for <a href="https://universeodon.com/tags/moneylaundering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneylaundering</a>The fact that Evolve has not been shut down is insane. Banking system cannot survive if these kinds of bad actors roam free like the wind.* more on Evolve: <a href="https://fintechbusinessweekly.substack.com/p/evolves-problematic-partners-bankruptcies" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://fintechbusinessweekly.substack.com/p/evolves-problematic-partners-bankruptcies</a> * even more: <a href="https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action</a><a href="https://universeodon.com/tags/EvolveBank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#EvolveBank</a> <a href="https://universeodon.com/tags/EvolveBankAndTrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#EvolveBankAndTrust</a> <a href="https://universeodon.com/tags/finreg" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#finreg</a> <a href="https://universeodon.com/tags/Banking" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Banking</a> <a href="https://universeodon.com/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://universeodon.com/tags/AML" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#AML</a> <a href="https://universeodon.com/tags/BaaS" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BaaS</a> <a href="https://universeodon.com/tags/Russia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Russia</a> <a href="https://universeodon.com/tags/putin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#putin</a>

⚯ Michel de Cryptadamus ⚯<a href="https://infosec.exchange/@JessTheUnstill" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@JessTheUnstill</a> interesting fact: the <a href="https://universeodon.com/tags/Synapse" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Synapse</a> partner bank where all these issues are stemming from, Evolve Bank & Trust, has a bunch of fun properties:1. Issuer of the <a href="https://universeodon.com/tags/FTX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FTX</a> debit card 2. Used by George Santos and Andy Ogles to store campaign funds 3. Banking partner of <a href="https://universeodon.com/tags/PrimeTrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PrimeTrust</a>, the Nevada crypto custody company that collapsed in 2023 4. Banking partner of <a href="https://universeodon.com/tags/BlockFi" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BlockFi</a>, one of the crypto "banks" that went down with the good ship FTX. 5. Recently hacked by Russians 6. Recently hit with a major fed enforcement actionAlso Synapse was backed in a big way by Trump loving <a href="https://universeodon.com/tags/a16z" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#a16z</a> and Marc Andreessen.Some more details: <a href="https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action</a><a href="https://universeodon.com/tags/marcandreessen" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#marcandreessen</a> <a href="https://universeodon.com/tags/EvolveBank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#EvolveBank</a> <a href="https://universeodon.com/tags/EvolvebankAndTrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#EvolvebankAndTrust</a> <a href="https://universeodon.com/tags/crypto" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#crypto</a> <a href="https://universeodon.com/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cryptocurrency</a> <a href="https://universeodon.com/tags/Bitcoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Bitcoin</a> <a href="https://universeodon.com/tags/ethereum" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#ethereum</a> <a href="https://universeodon.com/tags/BTC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BTC</a>

Jamie Clark<a href="https://indieweb.social/@web3isgreat" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@web3isgreat</a> It might be worth mentioning, when you read that table, that in bankruptcy disclosures, particularly for securities-clearing-type-entities, the asset numbers initially disclosed •frequently• turn out later to be full of holes, or subject to netting, or notional not actual liability amounts, etc. etc. <a href="https://infosec.exchange/tags/FTX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FTX</a> <a href="https://infosec.exchange/tags/BlockFi" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BlockFi</a>

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