R
A ‘banking as a service’ provider collapsed, but where did the money go?
Thousands of people say they’ve collectively been locked out of more than $30 million due to the bankruptcy of fintech middle-man Synapse.
CNBC reports federal agencies like the FDIC don’t cover nonbanks like Synapse, and “the estate of Andreessen Horowitz-backed Synapse doesn’t have the money to hire an outside firm to perform a full reconciliation of its ledgers.”
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
Loading comments
Getting the conversation ready...
Most Popular
Most Popular
- Xbox overhauls its PC, web, and cloud apps with a faster design
- Anker’s new window-mounted camera monitors the outside of your home from within it
- I’ve reviewed almost every Android foldable this year — here’s how the iPhone Duo compares
- After printing 40,000 whistles, this is the 3D printer I’d buy
- The Enough Phone is made by and for people fed up with big screens
