Mastodawn

⚯ Michel de Cryptadamus ⚯Apr 9, 2025

oh look, another #fintech bankruptcy involving Evolve Bank & Trust.

some other fun places Evolve has popped up:

1. issuer of #FTX and #BlockFi debit cards (before those companies blew up and customers lost all their money)
2. #GeorgeSantos and #AndyOgles held their campaign money at Evolve
3. #Synapse bankruptcy which cost customers of a bunch of fintech "banks" like #Yotta most if not all of their money
4. Partnered with "anti-woke" fintech #GloriFi
5. Got hacked by Russia midway through Synapse bankruptcy proceedings
6. Anonymous crypto debit card issuer for #ZELF
7. Frequently found to be the bank used by #pigbutchering fraudsters
8. Sanctioned by federal reserve for #moneylaundering

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: https://fintechbusinessweekly.substack.com/p/evolves-problematic-partners-bankruptcies
* even more: https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action

#EvolveBank #EvolveBankAndTrust #finreg #Banking #uspol #AML #BaaS #Russia #putin

Evolve's Problematic Partners: Bankruptcies, Regulatory Actions, Abrupt Shutdowns

Sequoia, Craft Urged Portfolio Companies To Pull $200m in Funds From Evolve-Linked Mercury, Sources Say

Fintech Business Weekly

Show thread

tolortslubor Dec 23, 2022

@futurism
#conservative #bankers are a con, like #Republican politics.
#KenGriffin #PeterThiel #TobyNeugebauer #NickAyers #GloriFi

Clyde J Nov 28, 2022

Snort . #CandaceOwens and her anti-midas touch

#glorifi tanks after just 3 months burning 50Mill

https://www.msn.com/en-in/news/other/glorifi-an-anti-woke-bank-backed-by-peter-thiel-and-candace-owens-is-folding-just-3-months-after-it-was-set-up/ar-AA14vCEF

GloriFi, an 'anti-woke' bank backed by Peter Thiel and Candace Owens, is folding just 3 months after it was set up

Texas-based bank aimed to appeal to customers who disliked "liberal" lenders and blamed "reputational attacks" and "negative stories" for its demise.

MSN

Justice Is Served Nov 28, 2022

The insurrection tried to open their own bank
#Glorifi

https://twitter.com/pleasesaveour/status/1597272226747011073?s=20&t=lYF4VXRGADAz4JOk2-GW2A

Justice is Served on Twitter

“Let's start a bank! #Glorifi Toby Neugebauer and his wife raised $50M from 84 conserv backers, inclu Peter Thiel, Ken Griffin and Vivek Ramaswamy. Candace Owens, was a co-founder; Nick Ayers, consultant to Pence, a sr partner https://t.co/yQfoITdHwk”

Twitter

Michael Scally Nov 25, 2022

Selling a bank as being inherently more conservative than other banks has got to be one of the stupidest grifts in the world and if you bought into it, you deserved to have your money and time stolen from you...
#GloriFi https://t.co/RkaZJysql2

Michael Scally 🏳️‍🌈 🐀 (ESCAPE PODS IN PROFILE) on Twitter

“Selling a bank as being inherently more conservative than other banks has got to be one of the stupidest grifts in the world and if you bought into it, you deserved to have your money and time stolen from you... #GloriFi”

Twitter

Christopher Faille Nov 25, 2022

#GloriFi is closing. Question for my finance nerd peers. Is this because ESG is here to stay? Or is it because politics makes for bad business plans? Or something else? What is our take-away?

Chron Nov 21, 2022

The conservative banking start-up co-founded by Candace Owens lasted only a few short months.

Owens urged followers to delete their PayPal accounts claiming the company would "overtake Bank of America, Wells Fargo, Chase & Paypal very quickly."

Why the 'anti-woke' bank startup GloriFi failed so quickly

The conservative banking start-up co-founded by Owens lasted only a few short months.

Chron

NellMinow Nov 21, 2022

It is a special pleasure to see those who purport to represent the purity of capitalism fail so spectacularly with the "anti-woke" bank that called itself #glorifi -- as Stephon might say, it had everything, $$ from Peter Thiel, a former Trump guy, an inadvertent naked zoom appearance, a fight at PF Chang, an ad featuring Candace Owen and credit cards made of shell casings that did not actually fit in the card readers. Somehow, the market said no thanks. Goodbye to this condescending, posturing, wildly incompetent mess. https://c.im/@SteveJ/109383152821810956 #corpgov #esg

Steve Johnson (@[email protected])

Anti-Woke Bank GloriFi to Shut Down https://www.wsj.com/articles/anti-woke-bank-glorifi-to-shut-down-11669051554 Very good. #glorifi #banking #dei

C.IM

Steve Johnson Nov 21, 2022

Anti-Woke Bank GloriFi to Shut Down https://www.wsj.com/articles/anti-woke-bank-glorifi-to-shut-down-11669051554

Very good. #glorifi #banking #dei

Anti-Woke Bank GloriFi to Shut Down

Texas startup has laid off most employees after failing to secure more funding

The Wall Street Journal

whisperwatch Oct 17, 2022

Someone tell #kanyewest - and the ppl trying get yall upset over what may not be a #censorship controversy - to calm tf down until we know more.🤔 Something's fish af.🤔 This is a feud. It looks like a high finance feud. And it seems West and Owens wants to leverage your outrage for their financial benefit. 🤷🏿‍♀️#candaceowens #glorifi

This interview was done weeks before his comments that supposedly caused #Chase to "cut ties". Looks like he was already leaving.🤷🏿‍♀️

https://www.youtube.com/watch?v=3QjzfX7vuVM

Kanye West on Yeezy Gap & Adidas deals (Full CNBC Interview 2022)

YouTube