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

[charlieangel123]

like that momoo, tiger, ibkr digital banks all safe or not?

 

[carey]

is "influencer" even a proper full time job?

just some guy making funny nonsense video on youtube.

Yes, some of them are doing so well that they are driving Teslas, wearing Rolexes and living in new condos

Under IRAS, influencers need to declare both cash and non-cash benefits from their gigs

 

[m0n0n0ke]

like that momoo, tiger, ibkr digital banks all safe or not?

They are not bank

 

[Carnesir]

I think he will get sued big time...

He may not get future endorsement deals also given this incident.

Tbh if I am a fintech company I WILL NOT engage all these finfluencers to promote product.

starting when nego to help promote the product all day say this and that very nice then once u stun them they throw u under the bus even thou u are their paymaster.

looking at most of these finfluencers sharing, 60-80% of their revenue are through earning affiliate links and not giving consumers actual advisory.

Demi Zhuang, honeymoney, Seth, kelvin, budgetbabe are all culpable in this.

the only one I see outside of this mess are those who can’t give a damn about earning from fintech or not influential enough are masters Leong, 1m65 and Ak, at least their recommendations/views are neutral and independent for any product

 

[Acetone]

But this influencer so big meh… can cause an FI to run into liquidity problems ?

 

[carey]

What is CF selling point? Instant withdrawal?

Higher returns on "safe" investments

 

[ctan84]

They are not bank

Digital banks are still banks. Need SDIC coverage one.

 

[saikangwarrior]

wtf. i tot his creds is what some Senior Vice President at a leading investment house like JPM or at least a local bank.

什么都不是。滚！

If you wan gian png advice like which credit card to apply, which brokerage give free gifts or which banks have good interest rates etc , it’s okay to refer to such influencers. But people like honeymoneysg, Kevinlearnsinvesting, sethisfy are not even finance trained and have no business giving stock advice, nor can we expect them to have an understanding of money market funds.

For me i am finance trained and don’t even solicit investment advice to friends

 

[ctan84]

But this influencer so big meh… can cause an FI to run into liquidity problems ?

Is more like 1 spread to 10, 10 spread to 100, 100 to thousands etc across different platforms. Even the Ah Tiong little red book posted this. You see why now sg gahmen need tools like POFMA ? Coz tangible damage can really happen from misinformation one.

 

[yperic]

Will they run road later can not draw your money out.

 

[yves]

The name is already a red flag. Xia mi choco lat finance. Knn

 

[Equivocal2011]

Tbh if I am a fintech company I WILL NOT engage all these finfluencers to promote product.

starting when nego to help promote the product all day say this and that very nice then once u stun them they throw u under the bus even thou u are their paymaster.

looking at most of these finfluencers sharing, 60-80% of their revenue are through earning affiliate links and not giving consumers actual advisory.

Demi Zhuang, honeymoney, Seth, kelvin, budgetbabe are all culpable in this.

the only one I see outside of this mess are those who can’t give a damn about earning from fintech or not influential enough are masters Leong, 1m65 and Ak, at least their recommendations/views are neutral and independent for any product

We are living in a different era liao.
Can't quite deny the impact influencers can have on platforms, especially in early days.
As boss of fintech, they see it as risk/reward thing too.

 

[testart]

Quote:
Walter de Oude, Founder and CEO of Chocolate Finance, said,

“Our belief is this—when your money is happy, you’re happy too. We’re simply reinventing how to make your money work harder. We want to remove the friction and barriers traditionally prevalent in the personal finance space, such as complicated criteria, long lock-in periods or low liquidity, and high fees. Instead, we’ve built a simple, seamless place where you and your money can be happy. All the while, being in compliance with the Singapore financial services regulatory framework. ”

Is the above considered as "marketing statement"?

Why do investment companies feel the need to make such bold marketing statements?

Don’t they know that people will hold them to their words and expect them to deliver?

 

[Carnesir]

We are living in a different era liao.
Can't quite deny the impact influencers can have on platforms, especially in early days.
As boss of fintech, they see it as risk/reward thing too.

Tilting towards more risk already looking at how they throw them under the bus when shyt hits the fan.
Need to do due diligence whenever they engage finfluencers from now on

 

[letonzy]

But this influencer so big meh… can cause an FI to run into liquidity problems ?

i guess not that big

However fear of losing hard earn money is real. people rather play safe than sorry

his message spread in telegram and forum turn into wildfire, it natural reaction people want abandon ship

 

[Edixfan]

Getting financial advice from an influencer who cannot even hold down a proper job.
Those companies who pay them to put up their trash on YouTube also never use their brain one

 

[icebleue]

Weather too hot chocolate melted.

 

[carey]

If you wan gian png advice like which credit card to apply, which brokerage give free gifts or which banks have good interest rates etc , it’s okay to refer to such influencers. But people like honeymoneysg, Kevinlearnsinvesting, sethisfy are not even finance trained and have no business giving stock advice, nor can we expect them to have an understanding of money market funds.

For me i am finance trained and don’t even solicit investment advice to friends

I don't even bother watching or listening to their advices

 

[carey]

i guess not that big

However fear of losing hard earn money is real. people rather play safe than sorry

his message spread in telegram and forum turn into wildfire, it natural reaction people want abandon ship

Mob behaviour

Bank runs are usually started by rumors

 

[testart]

Higher returns on "safe" investments

https://www.chocolatefinance.com/

Based on the marketing on the website, it seems to me that it sold the idea of a frictionless and seamless experience. It also conveyed the impression of strong liquidity.