Adam Moelis

This is the craziest thing I've ever seen in football. I don't know what's dumber. The Lions snap it early or the Bucs not using the last timeout to try to win the game.

@AlexH_Johnson If SVB had frozen funds across a big group of customers, it couldn't have technically failed. Not a precedent that should be set.

The FDIC protects depositors (including, occasionally, uninsured depositors when there’s a systemic risk concern) when banks fail. SVB failed. None of the banks involved with Synapse have failed.

@mikulaja @winwithyotta in 2021

@mikulaja @winwithyotta This tweet, if not directly, 100% implies that we did something nefarious by saying funds were "held" at Evolve. We were literally listed on their website as a partner. My ask would be to edit and say "funds were held at Evolve. They listed Yotta as a partner on their website"

A visual reminder of why users of @winwithyotta believed their funds were "held" at Evolve. Wayback Machine of Yotta's site in 2021:

@mikulaja @winwithyotta We didn't freeze access to funds. All I've been doing is trying to help unfreeze. Criticize me all you want. But stop posting tweets about us that are false or misleading.

@adammoelis @winwithyotta Blame the lawyers, blame the FDIC (which, unlike with the SVB situation, in which the “systemic risk exception” was invoked, does not have any clear legal authority to act here), what about you taking some accountability?

@DSchulzi @mikulaja @winwithyotta The parties that can help solve the problem are the banks and regulators. That's my focus. Spreading how FDIC over-stepped for SVB but not here would be helpful. Posting about our website saying in 2021 funds were held at Evolve, when they were, doesn't help.

@DSchulzi @mikulaja @winwithyotta Getting press to spread awareness and hopefully expedite action, contacting regulators and people in DC who can help and sharing customer stories as they come in to help them understand the impact. In contact with parties involved proposing actionable solutions. Everything we can

@mikulaja @winwithyotta We moved to brokerage after consulting with lawyers. Synapse programs not on brokerage have their funds frozen right now. We will learn more about what caused this. In the meantime, I'm focusing my energy on doing everything I can to help customers get access to their funds.

@adammoelis @winwithyotta Forcibly converting users' DDAs to Evolve to brokerage accounts at Synapse on an opt-out basis is dubious, at best. I'm sure we'll learn more in the inevitable waves of class-action litigation against every bank/company/director involved.

@mikulaja @winwithyotta The screenshot you pulled is from 2021. We updated our website, T&C, and everything else we needed to.

@mikulaja @winwithyotta Jason - You can reach out to me any time for clarification or clarity. I'll answer what I can. Evolve isn't a program bank for Synapse Brokerage but still involved in the flow. I'm trying to help expedite a resolution. I know you think I'm the bad guy. I'm not.

@mikulaja @winwithyotta Fact is FDIC over-stepped its mandate in one day for uninsured deposits at SVB because deep pocketed companies were involved. Cards issued by member FDIC banks have been frozen for 3 weeks, denying customers access to their money. The FDIC has done nothing. This is the story.

@mikulaja @winwithyotta Evolve's partners page in 2023.

@mikulaja @ycombinator @Base10Partners @winwithyotta Will update thanks. Are you going to correct your tweet?

@adammoelis @ycombinator @Base10Partners @winwithyotta The link on your site points to @yottasavings - maybe fix it.

A true rare miracle of nature occurred today... I called the IRS and they actually solved my problem

@nestolobo ~15-20%

@adammoelis What percent of their costs are server fees?

Reddit, a CRUD app with free content creation, free content moderation, virality, and network effects, generates $800 million of revenue and manages to lose money... That is incredible. Can someone explain to me why this company needs $800 million of headcount to operate?

They chose to receive the ball with the new overtime rules? Fire everyone.

@LionPride8123 @Buccaneers Dan Campbell - the guy who took a knee with 15 seconds on the play clock twice for no reason? Absolute moron as well.

@adammoelis @Buccaneers he also punted on a 4th and 1 from near midfield. hes no dan campbell thats for sure.

I wonder if the @Buccaneers will even show up to a game next year. Their odds to win the Super Bowl in Vegas are +5000. After all, there's "no sense in prolonging the obvious" for Todd Bowles