Omg tried to withdraw money from chocolate finance cannot immediate withdrawal. Say need up to 10 working days to withdraw

[harky]

I withdraw because ts post..

 

[SimpleToo]

21,000 views nia, unless you tell me the customers are all introduced by him... lol..

cascading effect bro + the earlier DBS debacle...
Lets say earlier when i view yesterday got around 5k-6k view people see, let just say 3-4k people withdraw ... will wipe out a good chunk of liquidity resulting in running out of liquidity this morning... reuslt the pause of immediate withdrawal further trigger panic and the cycle continues...
This is on top of DBS issue earlier on friday result pause of withdrawal...

 

[icebleue]

I can withdraw leh

maybe they set percentage or amount... above $100 cannot..

 

[articland05]

But will u believe

moi ish a veteran in bank runs...
moi ish a survivor in

LUNA crash
Hodlnaut run
FTX run

the common denominator in the above 3 is cos they are all crypto. Choco is different....so gotta see if they go do any funny thing or not

 

[sacredrays]

if got 100k mas insurance scare what

if bo then gg

not a bank account. it's an investment product.

 

[huihong]

What happens if Chocolate Finance closes down?


Whether your funds are in the form of cash or securities, we use the services of al licensed custodian banks to hold and manage them. This means that if anything happens to Chocolate Finance, your money remains separately custodised (ringfenced) and you can still withdraw it anytime.

 

[huihong]

What happens if Chocolate Finance closes down?


Whether your funds are in the form of cash or securities, we use the services of al licensed custodian banks to hold and manage them. This means that if anything happens to Chocolate Finance, your money remains separately custodised (ringfenced) and you can still withdraw it anytime.

 

[articland05]

You think is he know it all ??? There are also many other fator come into play. Who don't know interest rate is coming down.

scare then withdraw lo

 

[AndroidComa]

maybe they set percentage or amount... above $100 cannot..

morning I try $5 also cannot

 

[articland05]

What happens if Chocolate Finance closes down?


Whether your funds are in the form of cash or securities, we use the services of al licensed custodian banks to hold and manage them. This means that if anything happens to Chocolate Finance, your money remains separately custodised (ringfenced) and you can still withdraw it anytime.

last check this is still in their faq....
i recall last time FTX ownself update the faq silently when things go awry

anyway, hope choco can survive...
if they can (i think they will) i might put money there cos 经过风浪 different liao

 

[letonzy]

21,000 views nia, unless you tell me the customers are all introduced by him... lol..

multiplier effect.
1 person tell few person will snowball very fast.
if someone post his video in telegram or forum, very fast will spread like wildfire

 

[Bumperbee88]

scare then withdraw lo

That is a serious case. He can be charge for market manipulation, if MAS investiagate

 

[speedsonic]

the one who came up with this max miles thing unable to anticipate the probs.
now why let those who never even have the card in first place to take on this nonsense? we're not even the ones who went for the miles right. when signed up no such thing. mo ming qi miao.

 

[madcampus]

Official statement from Chocolate Finance:

Dear Chocolate Finance Community, We're currently experiencing an increase in withdrawals, partly driven by social media. We fully understand that seeing negative content can be unsettling, so we want to address this head-on. We want to reassure you that Chocolate Finance remains strong, stable, and secure. Our business fundamentals are solid, and your money is always safe. As a result of the increase in withdrawals, we have temporarily paused our instant liquidity programme and fund settlement now takes a few days as is the usual market practise. The recent delays in instant withdrawals are not a liquidity issue but a matter of managing our transaction volume. Unlike other fund managers where redemptions take a few days, Chocolate designed our Liquidity Programme to facilitate instant withdrawal. We simply pay it out first and settle with the fund manager later. However when withdrawal volumes are large, we need to pause instant withdrawals for a while and wait for the settlements to catch up.

As you know, Chocolate is not a bank, and therefore there is no risk of a ‘bank run’ on Chocolate. Customer money is separately segregated and safeguarded under independent custody. If customers want to withdraw all their money, we sell the equivalent amount from the funds and send the money to our customers. Your money is never at risk from this liquidity arrangement. What does this mean for you? ● Your funds are always safe. ● Withdrawals continue to be processed, with standard withdrawals taking 3–6 business days, but may take a little longer if you’ve only recently deposited them. ● We will reinstate the instant liquidity programme in time. We understand that waiting for withdrawals to process can be frustrating, and we deeply appreciate your patience during this time. We know that trust is built on transparency. At Chocolate, we only make money when you do. We don’t rely on leverage or risky investments to generate returns. Instead, we focus on carefully selected quality funds to keep your returns steady and ensure that you can access your money whenever you need it.

If you have concerns, we encourage you to read through our FAQ’s and our T&Cs or reach out to us directly. We appreciate the trust you’ve placed in us and remain fully committed to making Chocolate Finance the best place for your money. Thank you for being part of our journey. The team at Chocolate Finance

Damage has already been done regardless of 3-10days to liquidate fund settlement blah blah. When ppl cannot cannot withdraw the money as and when, confidence already lost. Confidence lost = ppl not putting in money = no money cannot invest = cannot invest = cannot earn = can close shop.

 

[Travis_Touchdown]

just contribute to +1 view
if one didnt watch this video will kanchiong go withdraw....but actually in the video the reason he mention is due to drop in interest that's why withdraw. kwelvin also don't think they will close shop cos is true need time to sell the underlying funds...

base on his beedio there is nothing choco can sue him...

he also gvgt he still have 25k inside haven't withdraw...

let's see if choco can survive

if tohz juz get ready popcorns rohz...

 

[Travis_Touchdown]

moi ish a veteran in bank runs...
moi ish a survivor in

LUNA crash
Hodlnaut run
FTX run

the common denominator in the above 3 is cos they are all crypto. Choco is different....so gotta see if they go do any funny thing or not

moi oredi know long time ago chiu ish hidden dragon crouching tiger riaoz!!!!

 

[Bumperbee88]

you going to pay back us all the money if CF really failed?

asking this becos you seem very confidence of what you posted.

Self comforting liao.

 

[carey]

if SG pass law to ban finfluencers, what content will stupid ppl make?

college humour ripoffs "10 types of ppl u will see in office? or be one of those adfluencers for local brands? forget it, i still love my Conti brands.

I think they are looking at how to "license" these finfluencers

Also means more money for the G

 

[AndroidComa]

Official statement from Chocolate Finance:

Dear Chocolate Finance Community, We're currently experiencing an increase in withdrawals, partly driven by social media. We fully understand that seeing negative content can be unsettling, so we want to address this head-on. We want to reassure you that Chocolate Finance remains strong, stable, and secure. Our business fundamentals are solid, and your money is always safe. As a result of the increase in withdrawals, we have temporarily paused our instant liquidity programme and fund settlement now takes a few days as is the usual market practise. The recent delays in instant withdrawals are not a liquidity issue but a matter of managing our transaction volume. Unlike other fund managers where redemptions take a few days, Chocolate designed our Liquidity Programme to facilitate instant withdrawal. We simply pay it out first and settle with the fund manager later. However when withdrawal volumes are large, we need to pause instant withdrawals for a while and wait for the settlements to catch up.

As you know, Chocolate is not a bank, and therefore there is no risk of a ‘bank run’ on Chocolate. Customer money is separately segregated and safeguarded under independent custody. If customers want to withdraw all their money, we sell the equivalent amount from the funds and send the money to our customers. Your money is never at risk from this liquidity arrangement. What does this mean for you? ● Your funds are always safe. ● Withdrawals continue to be processed, with standard withdrawals taking 3–6 business days, but may take a little longer if you’ve only recently deposited them. ● We will reinstate the instant liquidity programme in time. We understand that waiting for withdrawals to process can be frustrating, and we deeply appreciate your patience during this time. We know that trust is built on transparency. At Chocolate, we only make money when you do. We don’t rely on leverage or risky investments to generate returns. Instead, we focus on carefully selected quality funds to keep your returns steady and ensure that you can access your money whenever you need it.

If you have concerns, we encourage you to read through our FAQ’s and our T&Cs or reach out to us directly. We appreciate the trust you’ve placed in us and remain fully committed to making Chocolate Finance the best place for your money. Thank you for being part of our journey. The team at Chocolate Finance

how did u get this?

 

[kaya123]

CF should sue these influenza for fear mongering.