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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.

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.

Synapse Management Ousted As Fintech Customers Remain Frozen Out Of Their Accounts

Gruenberg's departure weakens the administration's regulatory hand

FDIC chair Martin Gruenberg's departure from the agency may have political implications as the White House and Senate scramble to name a successor, but experts agree that the move will likely result in a weaker Basel rule and stronger role for the Federal Reserve in joint rulemakings.

Biden administration financial regulators among names considered to run FDIC, sources say

By Kayla Tausche, CNN