Could What Happened at Yotta Happen at Vanguard or Fidelity?

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Resources Mentioned in this Video:

List of Accounts w/ Extended FDIC Coverage: https://www.allcards.com/bank-accounts-with-extended-fdic-insurance/
Yotta: https://www.withyotta.com/
Yotta in February: https://web.archive.org/web/20240207174429/https://www.withyotta.com/
Yotta history of problems:
https://www.withyotta.com/payment-processing-updates
Yotta Bankruptcy Status Report: https://www.cravath.com/a/web/gKmGbBUpGz6GYGamAkJ1T1/91TmuQ/9890-250-06_06_2024-pacer250-main-document-012731-00001-central-district-of-california.pdf
Vanguard Cash Plus Account: https://investor.vanguard.com/accounts-plans/vanguard-cash-plus-account
Fidelity Cash Management Account: https://www.fidelity.com/spend-save/fidelity-cash-management-account/overview

Timestamps

0:00 - Yotta
3:02 - What happened with Yotta
4:26 - Synapse
6:16 - $85 million missing
6:49 - Fidelity and Vanguard
8:14 - Could what happened at Yotta happen with Fidelity and Vanguard?
9:34 - Fidelity FDIC insurance
10:27 - Vanguard terms of use
11:09 - Are these arrangements without risk?
11:57 - Asking for your money
14:00 - Financial Freedom

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ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I'm the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

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