These YouTubers are owed $1.7 million, and they’re probably never going to get it
A group of approximately 50 YouTube creators allegedly owed more than $1.7 million following the collapse of network Defy Media are unlikely to see that money.
Ally Bank, one of Defy Media’s financial backers, tweeted a statement on January 25th following a video from popular YouTube creator Matthew “MatPat” Patrick asking Ally to give him and other YouTube creators the money they’re owed by Defy.
“Ally made a loan to Defy Media that [Defy] was unable to pay back after experiencing excessive losses and the owners refused to continue to support the company,” reads the tweet. “Defy is being liquidated by a professional hired by their Board of Directors, and Ally stands to lose most of its loan. We are sympathetic to everyone caught up in...