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Jul 13, 03:15 PM
Synapse Collapse Freezes $160M for Two Months, Affects Thousands of Depositors
Economics
Fintech
Business
Tech

Synapse Collapse Freezes $160M for Two Months, Affects Thousands of Depositors

Authors
  • TechCrunch
  • NBC News
  • DealBook
4

The collapse of Synapse Financial Technologies, a company that operated banking software for fast-growing online start-ups, has led to the freezing of nearly $160 million from fintech users. Tens of thousands of unsuspecting depositors in these start-ups have been affected, with their accounts frozen for the past two months. There may be relief on the horizon for the thousands of Americans whose savings have been locked in frozen fintech accounts for the past two months.

Written with ChatGPT (GPT-4o).

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