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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

Savings app CEO says 85,000 accounts locked in fintech meltdown: We never imagined a scenario like this – NBC 5 Dallas-Fort Worth

The ongoing Synapse bankruptcy mess has exposed the risks in a corner of fintech that grew in prominence during a boom in venture investment.

United statesJelena mcwilliamsAdam moelisMartin barashDeposit insurance corpFederal reserveTennessee based evolve bankEvolve bankFederal deposit insuranceJudge martin

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