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Synapse Bankruptcy Trustee Finds $85M Shortfall Amid Accounts

Synapse Bankruptcy Trustee Finds $85M Shortfall Amid Accounts
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United statesJelena mcwilliamsAmerican bankLineage bankDeposit insurance corpFormer federal deposit insuranceChair jelena mcwilliamsEvolve bankComing downSynapse brokerage

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown

There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the court-appointed trustee in the Synapse bankruptcy.

United statesJelena mcwilliamsMartin barashAmerican bankLineage bankPartner bankAndreessen horowitz backedEvolve bankPartner banksJudge martin barash

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown

The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence after the 2008 financial crisis.

San diegoUnited statesMartin barashJelena mcwilliamsAmerican bankLineage bankPartner bankDeposit insurance corporationAndreessen horowitz backedEvolve bankPartner banksFederal deposit insurance corporationJudge martin barash

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown

The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence after the 2008 financial crisis.

United statesJelena mcwilliamsMartin barashAmerican bankLineage bankDeposit insurance corporationPartner bankAndreessen horowitz backedSouth floridaEvolve bankPartner banksFederal deposit insurance corporationJudge martin barash

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown

The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence after the 2008 financial crisis.

United statesJelena mcwilliamsMartin barashLineage bankAmerican bankDeposit insurance corporationPartner bankAndreessen horowitz backedSouthern californiaEvolve bankPartner banksFederal deposit insurance corporationJudge martin barash

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