Who is BNK To The Future?
BNK To The Future (BTTF) is a financial technology company that operates an online investment platform focused on cryptocurrencies. It was founded in 2010 by Simon Dixon.
Simon Dixon has been interviewed numerous times by crypto guru Max Keiser (external youtube link).
The company gained popularity for being one of the first platforms to facilitate investments in Bitcoin-related companies during the early days of the cryptocurrency industry. It has since expanded to include a broader range of investments in the fintech and blockchain sectors.
According to their website:
“BNK To The Future, a company incorporated in the Cayman Islands under the Companies Act (as revised) (Company No. 296093). BNK To The Future is regulated by the Cayman Islands Monetary Authority as a registered person under the Securities Investment Business Act (as revised) (CIMA No. 1601784).”
Contrary to what the name infers, BTTF is not a bank, is not regulated as a bank, and doesn’t offer the same protection as a bank. Far from it. Unlike a bank, it can take away your investment and there is no ombudsman to appeal to.
Is it worth this risk?
I have been blocked from the BTTF portal for 4 years and BTTF refuses to pay what they owe me. I’m retired and I don’t expect to ever see my investment. I estimate the loss at hundreds of thousands of dollars.
BTTF claimed they hadn’t stolen my funds. It’s yours but you can’t have it. If I can’t gain access to my retirement what would anyone else call it? I invested in good faith, and I’m struggling in retirement
What does Simon Dixon think?
In November 2021 I wrote to Simon Dixon on Twitter:
After receiving my message, Simon Dixon blocked me on Twitter without any response, so I don’t know what Simon Dixon thinks. Draw your conclusions.
Mafia offer or reasonable request?
BTTF now claim I have made threats and used coercion. What was my crime? I told them I would tell the world if they did not pay me what I was due. This is their stated reason for not paying what I am owed.
In my opinion, it’s blatant theft. In any fair-minded opinion, it is unethical and immoral. For any investor, it’s a big red flag. If BTTF were a bank, they would be open to prosecution.
Bank to the Future – Terms and Conditions
If you’re an investor, or thinking of investing with BTTF, read this carefully!
Section 13.4: The Platform Operator reserves the right, at any time, and without notice, to investigate any violation of these Terms by a Member. If the Platform Operator determines, unilaterally and in its sole discretion, that a Member has violated any of these Terms, the Platform Operator reserves the right to take action in relation to the Member’s Account, including but not limited to suspension, cancellation, banning, closure, freezing of the Member’s Account and the termination of all or some Services to a Member in accordance with clause 21.1. The BF Group bears no responsibility for any financial loss however caused to the Member resulting from the termination of a Service to a Member.
It begs the question, what kind of organisation would write something like this into their terms and conditions in the first place? What should one make of “including but not limited to“? Does it include seize, claim, take, or appropriate? It sure seems like it from where I sit.
So that’s that. I’m blocked for not submitting to BTTF demands, and as a parting gesture, this: “Please note that any further attempts to contact us regarding this matter will be considered a violation of our decision“
They forbade me from contacting them as it would be violating their decision. What are the consequences of violating their decision I wonder? Loss of retirement?
In the public interest
In my view, BTTF is abusive, completely unethical and behaving like common criminals.
Reading the fine print means everything. Investors like you can end up like me.
Alek
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