(CNBC) Customers of fintech firms that used Synapse to link up with banks had $265 million in balances. But the banks themselves only had $180 million associated with those accounts, trustee Jelena McWilliams said in a report filed late Thursday. The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence in the years after the 2008 financial crisis.
Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown
This entry was posted in Syndicated. Bookmark the permalink.
