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A comment on Yotta Bank and the Problem with Fintech (Patrick Boyle) [video]. Parent comment

Re:Yotta Bank and the Problem with Fintech (Patrick Boyle) [... by kgwgk on Sunday December 01, 2024 @12:25PM (#42289473)
For what it's worth, some countries also offer "lottery bonds": https://en.wikipedia.org/wiki/Lottery_bond
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Re:Yotta Bank and the Problem with Fintech (Patrick Boyle) [... by multjoy on Sunday December 01, 2024 @12:45PM (#42289602)
In the UK, those are Premium Bonds backed by HM Government. The day that they can't be redeemed is the day you have significantly bigger problems.
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Re:Yotta Bank and the Problem with Fintech (Patrick Boyle) [... by wat10000 on Sunday December 01, 2024 @12:55PM (#42289678)
Yotta’s funds were backed by the US government. The trouble is that the link between Yotta’s funds and Yotta’s customers’ funds was somewhat more tenuous than they implied.
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