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Synapse’s collapse could spell trouble for nearly 100 fintech startups | TechCrunch Minute

After years of missteps and struggles, the banking-as-a-service fintech Synapse officially has gone bankrupt. When a banking or financial startup fails, ordinary people get hurt. According to Synapse’s filings, up to 100 fintechs and 10 million customers could be impacted. But as industry expert Jason Mikula told TechCrunch, some customers using Synapse operate small businesses,…

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After years of missteps and struggles, the banking-as-a-service fintech Synapse officially has gone bankrupt. When a banking or financial startup fails, ordinary people get hurt. According to Synapse’s filings, up to 100 fintechs and 10 million customers could be impacted. But as industry expert Jason Mikula told TechCrunch, some customers using Synapse operate small businesses, meaning that the impact of Synapse’s collapse could be even more widespread than we think.

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12 Comments

12 Comments

  1. @Anil-gt2kn

    May 29, 2024 at 5:54 pm

    Thanks. Short to the point. Question: Is Evolve BAAS fintech also involved with Synapse fiasco?

  2. @Kiarasahara_07

    May 30, 2024 at 1:01 am

    Will you keep updating on this… we need word out. And I feel like there isn’t much talk about it. I have money in Yotta it was a way for me to have my sinking funds put away until I needed them. It’s horrible what’s happening I understand there are people who are in way worse situations than me. Just hope they figure it out and help us all out.

    • @cupidok2768

      June 4, 2024 at 7:04 pm

      Can you give me a list of the companies that are tied to them. You said there’s a 100

  3. @nancywaller2907

    May 30, 2024 at 12:35 pm

    It’s been since may about 10th the consumers havent had access to their money!

  4. @nanc2907

    May 30, 2024 at 12:35 pm

    It’s been since may about 10th the consumers havent had access to their money!

  5. @jessicahaines7263

    May 30, 2024 at 5:37 pm

    Thanks great swimming up. As one of the 10 million average Joe’s who’s affected and can’t access any of my savings, suddenly living hand to mouth which is better than some, I really appreciate you trying to get the word out

  6. @js72634

    May 30, 2024 at 5:37 pm

    Thanks great swimming up. As one of the 10 million average Joe’s who’s affected and can’t access any of my savings, suddenly living hand to mouth which is better than some, I really appreciate you trying to get the word out

  7. @rinaperse

    June 1, 2024 at 6:04 am

    I have $26K worth of money trapped with Yotta because of this scandal with Synapse!! I cannot withdraw my money at all and Yotta is unhelpful!! I’m commenting so that this video can get boosted in the algorithm!

  8. @rinaperse

    June 1, 2024 at 6:04 am

    I have $26K trapped with Yotta because of this scandal with Synapse!! I cannot withdraw my money at all and Yotta is unhelpful!! I’m commenting so that this video can get boosted in the algorithm!

    • @kaelthunderhoof5619

      June 3, 2024 at 9:40 pm

      Y’all stop using products promoted by YouTubers

    • @humantrash7980

      June 4, 2024 at 3:18 pm

      @@kaelthunderhoof5619fool me once shame on them. I joined Yotta when I was 18 and it seemed like a legit savings account since they claimed it was fdic insured. Luckily I only had a small amount since I preferred American Express but still it’s a hard lesson to learn

  9. @jaystrid3446

    June 4, 2024 at 11:16 am

    I believe it was a scam from the beginning.

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CNET

I Learned To Fly an eVTOL in 3 Days With Pivotal

CNET’s Andy Altman spent three days learning to fly an eVTOL called the BlackFly that’s made by Pivotal. Check out Pivotal 00:00 BlackFly eVTOL 00:13 BlackFly is an all electric personal flying vehicle 00:26 Pivotal is a Silicon Valley start-up 01:07 Pivotal’s VR flight simulator 01:34 Andy’s 1st flight 03:16 Take off 05:04 2nd flight…

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CNET’s Andy Altman spent three days learning to fly an eVTOL called the BlackFly that’s made by Pivotal.

Check out Pivotal

00:00 BlackFly eVTOL
00:13 BlackFly is an all electric personal flying vehicle
00:26 Pivotal is a Silicon Valley start-up
01:07 Pivotal’s VR flight simulator
01:34 Andy’s 1st flight
03:16 Take off
05:04 2nd flight
05:17 3rd flight
06:41 4th flight
07.14 Final thoughts

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30th Anniversary PS5 Pro Limited Edition Bundle Unboxing

The iconic PS1 Gray is back in the 30th Anniversary PS5 Pro Limited Edition bundle, and it looks SOOO good. #ps5pro #playstation5pro #ps5 #unboxing #gaming Subscribe to CNET on YouTube: Never miss a deal again! See CNET’s browser extension 👉 Check out CNET’s Amazon Storefront: Follow us on TikTok: Follow us on Instagram: Follow us…

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The iconic PS1 Gray is back in the 30th Anniversary PS5 Pro Limited Edition bundle, and it looks SOOO good. #ps5pro #playstation5pro #ps5 #unboxing #gaming

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Building trust in crypto with Jonathan Levin of Chainalysis | Equity Podcast

Late last week, U.S. Securities and Exchange Commission chair Gary Gensler said that he was “proud to serve” the agency, which some are taking as a hint at an upcoming resignation. Gensler has faced heavy criticism for his crackdown on crypto, including a recent lawsuit from 18 states, and is likely to be replaced under…

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Late last week, U.S. Securities and Exchange Commission chair Gary Gensler said that he was “proud to serve” the agency, which some are taking as a hint at an upcoming resignation. Gensler has faced heavy criticism for his crackdown on crypto, including a recent lawsuit from 18 states, and is likely to be replaced under President-Elect Donald Trump who has vowed to oust Gensler. On Tuesday, the Wall Street Journal reported that Trump is meeting with Brian Armstrong, the CEO of crypto exchange Coinbase, to discuss potential personnel appointments. 

This episode of Equity brings you an interview between Rebecca Bellan and co-founder and CSO of blockchain analysis firm Chainalysis, Jonathan Levin. The pair caught up at our Strictly VC event in New York shortly before the Gary Gensler news dropped to discuss the imminent change for crypto in the wake of the US election and Chainalysis’s choice to run its operations in the US. 

Equity is a show about the business of startups, where we unpack the numbers and nuance behind the headlines. New episodes drop every Wednesday and Friday. Subscribe wherever you get your podcasts.

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