Synapse Bankruptcy: $85M in Customer Funds Missing, 200K Locked Out

Dive into the shocking bankruptcy of Synapse, a company that provided banking APIs for numerous fintech apps. The bankruptcy has revealed a staggering $85 million in customer funds that are unaccounted for, with Synapse's ledgers not matching those of its partner banks. As a result, approximately 200,000 customers have been left without access to their funds.

We explore the fallout of this bankruptcy, including how popular fintech apps like Relay, Mercury, and Row have been forced to move away from Synapse and establish direct relationships with banks. The video also discusses the impact on end users, many of whom were unaware of Synapse's involvement and are now facing the possibility of losing their money.

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